TCL & Alcatel Mobile Phones Ltd., a joint venture between TCL Communication Technology Holdings Ltd. and Alcatel Corp., has officially begun operations.
The companies announced the JV June 18 and since have completed operational agreements and obtained shareholder, board and regulatory approvals.
TCL holds a 55-percent equity stake in TAMP, with Alcatel owning 45 percent. The company’s initial net asset value is approximately $121.8 million.
The company will be headquartered in Hong Kong, with research and development teams in Colombes, France, and Shanghai, China. TCL Mobile will cooperate with the newly formed company to develop next-generation handset technologies by sharing R&D resources and through distribution deals. The company will use the Alcatel brand name for its handsets.
Approximately 600 Alcatel employees, previously involved in the company’s mobile handset activities in France and China, are now employees of TAMP.
