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<Research>CLSA: TCL ELECTRONICS (01070.HK), Sony Form JV, Potentially Beneficial for Overall Profit Growth
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TCL ELECTRONICS (01070.HK) announced the formation of a joint venture with Sony Group (6758.JP), according to a research report by CLSA. The new company will take over Sony's home entertainment business, covering the R&D, design, manufacturing, sales, logistics and customer service of products such as televisions and home audio systems. Meanwhile, the profit margin of this business segment of Sony may be higher than that of TCL ELECTRONICS, which could be beneficial for TCL ELECTRONICS' overall profit growth and help the Company achieve its profit targets. However, detailed plans may take time to implement, and the broker looked forward to the final implementation plan. Therefore, CLSA currently rated TCL ELECTRONICS at Outperform, with a target price of $13. AASTOCKS Financial News Website: www.aastocks.com |
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