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Stockreport

China TV maker TCL feels the heat from US trade tensions [MSN Money]

INSEEGO CORP COMMON (INSG)  More Company Research Source: MSN Money
Last inseego corp common earnings: 11/6 04:42 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.inseego.com/investor-relations
PDF © Bloomberg China’s TCL Corporation, the world’s third-largest TV manufacturer, has seen its fast-growing US sales put under new pressure by Washington’s vow to levy a 25 percent tariff on imports of flatscreen televisions from China. The tariff came after TCL’s $50m deal for a business owned by US network hardware maker Inseego was blocked by the Committee on Foreign Investment in the United States on national security grounds.  TCL founder Li Dongsheng said Washington was biased against Chinese businesses. “When deals are not approved the explanations are not clear,” said Mr Li. “They do not clearly say that they would not approve deals from Chinese companies. But in practice there are tighter standards for Chinese companies.”  China exported 23m TV sets to the US last year, accounting for about a third of its total TV exports, according to consultancy Sigmaintell. Chinese brands TCL and Hisense are most vulnerable to tariffs because the US accounts for a relatively l [Read more]

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