TCL boss: “Someone should come out to challenge Apple”
March 16, 2015 by Blog Editor
The boss of TCL Corporation, a Chinese electronics company, has called on Chinese companies to challenge major tech heavyweights like Apple. Li Dongsheng said that while China’s economy is currently undergoing a difficult period of restruturing, Chinese industrial competitiveness will continue to shine through.
Li maintains that the Chinese state shold create regulations that may help Chinese enterprises maintain their competitive edge in the face of international competition. He believes the state could do more to encourage investment in the industrial sector as well as create effective policies and help Chinese companies go international.
Aggressively calling on Chinese firms conducting business both domestically and internationally to “seize a greater market share from foreign brands”, Li agrgues that Chinese firms have the advantage of unity.
‘Someone has to come out to challenge Apple. It’s no problem if Chinese consumers do not buy TCL products, but I still want them to use Chinese goods.”
China’s manufacturing faces an uncertain future. While it has raised the living standards of numerous Chinese there is currently low demand for goods produced domestically. Mr. Li hypothesizes that as China’s manufacturing sector shrinks this will weed out the weaker firms. He believes the state can reduce the negative impact by giving manufacturing companies preferential tax policies so that they may retain their competitiveness in the international marketplace.
At present, foreign multinationals that once flocked to China to set up factories are migrating to India.
Mr. Li sees this uncertain future as a chance for Chinese firms to rise to the occasion and to expand by seizing other corners of the market, referring to this as “squeeze growth”
Apple may be the champion of the mobile phone industry, but others such as Samsung and Motorola are giving Apple a run for its money. Noting that many of the reporters use Apple phones Mr. Li commented that the media should lead by example and encourage Chinese consumers to purchase domestic brands.
Discussing Chinese and Japanese collaboration and competition, Mr. Li noted that TCL is now second only to Sony in the Japanese market and he hopes that in a few years Chinese electronics can be number one. TCL also plans to enter the US market through a series of mergers and acquisitions.
By Jennifer Hinz