TCL reaps rich dividends with partnership strategy

Taking a cue from the success enjoyed by Hollywood blockbusters in China, many Chinese companies are now hoping to utilize global partnerships to make inroads in major international markets.

Electronics firm TCL Corp, which featured its new range of flatscreen televisions in the hit Hollywood movie Tranformers, is hoping to use its film partnership to spur sales in the US and European markets and has even used characters from the film to advertise their products.

In June this year, TCL signed contracts worth 300 million euros ($426 million) with nine Italian manufacturers and distribution partners. The contracts, which cover color TVs, mobile phones and home appliances, represent TCL's biggest deal in Italy since the company entered the European market in 2004.