TCL chairman Tomson Li said TTE Corp, a money-losing joint venture between Thomson and China's TCL International, planned to be profitable in 18 months by seizing more market share in its key European and North American markets. The JV claims to own 12% of the North American market — much of that via its RCA brand — and 8% of Europe. TTE aims to grow that by between 15% and 20%, but getting there will take "years." TTE chief executive Charles Zhao said the venture expected to sell 20 million televisions this year bringing revenue up to US$4 billion. The JV's recovery plan also includes sharp cost cuts in materials and manufacturing. TTE is America's No. 2 vendor and ranked among the top four in China and Europe.
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