Brazilian partner increases stake in joint venture with Chinese TCL

Semp Amazonas, which held a 20% stake in the joint venture with China’s TCL, increased its stake to 25% in the company through a capital increase, according to NeoFeed.

In 2016, when the joint venture was signed, TCL owned 40% of the business and Semp, 60%. In 2020, the Chinese took control of the company, bringing it to 80% – a share that has now fallen to 75%.

Since it began operating in Brazil through a joint venture, TCL Semp has gradually gained market share. Today, its share in TVs is around 20%, ahead of the Korean LG, according to data from consultancy GfK.

The company also entered the market for air conditioners. Last year, it invested in a factory in the Manaus Free Trade Zone to produce this product – its market share in this area is close to 10%.

In the fourth quarter of 2023, TCL Semp will enter two segments with the start of importing white goods and gaming monitors.

(Source: NeoFeed)