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TCL Communication Technology Holdings Ltd Comments On Q4 And FY 2012 Earnings Guidance

Tuesday, 8 Jan 2013 05:42am EST 

TCL Communication Technology Holdings Ltd announced that it expects to record a loss in the both fourth quarter and fiscal 2012. The expected loss was primarily attributable due to general decrease in the average unit selling price and gross profit margin for feature phones, which was brought by the price war amongst the entry-level smartphones; the majority of smartphones products of the Group at present consists of entry-level smartphones, which selling prices are currently under extraordinary pressure due to aggravating product-homogeneity in the market. In addition, the sales volume of the Group’s smartphones has not achieved the economies of scale, which resulted in lower gross profit margin of smartphones; and in order to ensure sustainable development of the Group, the Group has been continuously increasing its investment in product research and development and brand building, which in turn has resulted in corresponding growth in the expenses related to research and development, sales and marketing. 

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