TCL Electronics (Thailand) Co, the local unit of one of China's largest consumer electronics enterprises, has set an ambitious goal for sales of 12 billion baht this year as it celebrates 10 years of being in Thailand.
TCL staff put new smart TV models on display at yesterday’s press briefing in Bangkok.
As part of its strategy, the company plans to shift from offering low-end and small goods to high-end and bigger items.
Extending the business to cover a full range of product lines is another strategy to increase income, said managing director Bobby Zhang.
He said TCL will introduce appliances such as refrigerators, washing machines and lighting in the second half of this year and sell small home appliances next year.
TCL yesterday celebrated its 10th anniversary in Thailand, where its business has performed successfully, especially for TV sets. Last year, the company sold about 250,000 TV sets worth 1.5 billion baht.
In 2014, the company expects its sales volume will expand by 20% to 300,000 sets, with sales revenue to rise by 33% to 2 billion baht.
Mr Zhang is confident TCL's share of the TV set market will increase to 10% from 8.8% last year.
This is the first year that the firm has offered Thai consumers a variety of products it has already sold in the global market.
Founded in 1981, TCL has more than 40 sales offices worldwide. Besides selling products under the TCL brand, it also distributes Alcatel mobile phones. This year it plans to sell 500,000 Alcatel phones in Thailand.
"In the first decade, we have grown up and we start the second decade with a significant change by offering bigger and high-end products," Mr Zhang said.
"Our vision is to become a top-three brand in terms of market share over the next three years and to be the most trusted brand for Thai consumers within the next decade."
TCL yesterday launched a 14 TV models including an 85-inch high-end range and smart TVs that support the Android operating system.
"We expect to double sales of overall TCL business in Thailand to 3 billion baht, driven by TV business, with the coming 2014 Fifa World Cup," Mr Zhang said.
The company's TV sets are assembled at a factory in Chon Buri province, with air-conditioner items produced at a factory in Nonthaburi province. Both are operated as an original equipment manufacturer.
Kevin Cheng, general manager for international business at TCL Multimedia Technology Ltd, said the group is conducting a feasibility study to set up its own air-conditioner assembly factory in Thailand to increase its product competitiveness.
It is evaluating Thailand's labour costs and other factors before seeking approval from the board directors of its parent company in China. It is possible it will have its own assembly plant in the kingdom in the next few years.