Chinese consumer electronics maker TCL International said it would cash out of the competitive Chinese mobile-phone business to focus on TV and PC manufacturing.
The company's mobile-phone assets contributed 50% of its net income in 2002.
TCL International holds 40.8% of TCL Mobile, a unit that could be bought out by its parent, TCL Corp, in a bigger restructuring plan. The firm has strengthened its TV production business through a venture with Thomson of France.
TCL Corp, which will focus on mobile phones, home appliances, electrical products and parts, is in the process of listing on the Shenzhen A-share market with a RMB 2.5 billion initial public offering. The sale drew orders for 86 times the stock offered.