TCL announced on Dec.8 2018 its plan to sell its consumer electronics, home electric appliances and intelligent terminal businesses with annual revenue of about CNY50 billion in a package to TCL Industries Holdings (Guangdong), a new firm set up by the firm's board chairman Li Dongsheng and other executives, for CNY4.8 billion. TCL achieved revenue of over CNY110 billion last year and will lose half this business income if the transaction goes through, according to