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TCL and Elaraby group officials at the signing ceremony.

TCL seals Egypt retail partnership agreement

HONG KONG, May 21, 2016

TCL Multimedia Technology Holdings said it has signed an MoU with its strategic partner Elaraby Group, the largest home appliance enterprise, to launch its products in Egypt.

As a leading enterprise in the global TV industry, TCL Multimedia ranks amongst the top three globally and No. 1 in China by shipment volume, said a statement from the company.

The group is the only vertically integrated enterprise in China that boasts the manufacturing of display panels, modules and chips as well as product assembly under the same roof, it added.

"We have established long-standing partnership with TCL’s TV business arm and have maintained good working relationship for years," stated Mohyielden Elaraby, the company's chief marketing officer after signing the deal with Liang Tiemin, the general manager of TCL Strategic Customer Business Center in the presence of Yasser El Kady, Minister of Communications and Information Technology in Egypt.

Elaraby, with over 50 years of manufacturing and sales experience, is the largest home appliance enterprise in Egypt. It not only operates a number of manufacturing and fabrication plants for a multitude of products such as LED, air conditioner, washing machine, refrigerators, household appliances, lighting products, SMT placement, plastic parts, electronic components and processed metal parts, but also has a wide sales network stretching from traditional channels to new channels.

"We are excited to deepen our relationship further through this collaboration and are confident that the strategic cooperation will expand our sales network and strengthen our market presence with an increased share, bringing us mutual benefits," he stated.

Since the establishment of the first overseas TV production base in Vietnam in 1999, the Group has also set up production bases in Poland and Mexico, further optimising the industrial layout in European and North-central American markets.

The group has been committed to brand internationalisation through cross-border acquisitions, organic expansion and other strategic planning.

Tiemin said following this Sino-Egyptian strategic co-operation, a joint-venture TV manufacturing plant will be set up in Egypt to tap into the broad prospect of the Middle East and African markets, a move of strategic importance to upgrade TCL’s industrial layout.

"Leveraging TCL’s competition edge in research and development, supply chain management and a rich portfolio of high-end products, including curved, big screen, ultra-thin and high color domain quantum dot TVs, smart TV+ system and internet operational technologies, we will integrate our strengths with Elaraby’s manufacturing capabilities of diversified products and its extensive sales channels to realise significant synergistic benefits for both sides," he added.-TradeArabia News Service




Tags: Egypt | retail | home appliance | TCL |

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