TCL Electronics Holdings Ltd. is considering selling a stake in its Indian television manufacturing unit to local investors as part of efforts to expand its business in the country, according to people familiar with the matter, as cited by Bloomberg.
The company is working with an adviser and aims to raise at least US$200 million from the potential stake sale, Bloomberg reported, noting that discussions are preliminary and may not result in a transaction. The move would allow TCL to bring in local partners while supporting growth in a competitive and highly regulated market.
A potential deal would follow a similar approach adopted by Haier Smart Home Co., which agreed in late 2025 to sell a 49% stake in its India unit to Bharti Enterprises Ltd. and Warburg Pincus. According to Bloomberg, Haier said the transaction was aimed at strengthening its "Made in India, for India" strategy.
India has become a key market for TCL's global ambitions. Since entering the country in 2016, the company has invested in manufacturing capacity and research and development, producing QLED and Android-based smart televisions locally, according to Bitget. The report described India as central to TCL's growth strategy, with local production supporting both domestic demand and exports while improving cost efficiency.
Asia Business Outlook reported that TCL is exploring the stake sale as part of a broader plan to expand in India's fast-growing consumer electronics market. The publication noted that partnerships with local investors can provide both capital and market expertise, aligning with a wider trend among Chinese electronics firms operating in India.
TCL has also set a target to double its share of India's premium television segment to around 10% by 2025, according to Asia Business Outlook. To support this goal, the company has established a manufacturing facility in Tirupati, Andhra Pradesh, with an annual capacity of about 8 million TV panels, positioning it close to the scale of the country's total TV demand.
In January 2026, TCL signed a memorandum of understanding with Sony Group Corporation to form a joint venture in home entertainment, with TCL expected to hold a majority stake in the planned entity, later referred to as "BRAVIA Inc." in a March update.
Article edited by Jerry Chen
