TCL net profit surged 122% in H1

China's TV maker TCL Corp reported its net profit rocketed 122.2 percent year-on-year to 1.07 billion yuan ($175 million) in the first half of this year.

As well as its surging growth in net profit, TCL's interim report released on Aug 15 showed the company's revenue jumped 31.5 percent year-on-year to 39.06 billion yuan between January and June.

The Shenzhen-based China Star Optoelectronics Technology, a subsidiary of TCL, contributed most of the company's growth in the first half.

CSOT, the largest liquid crystal display panel maker in the Chinese mainland and the fifth-largest in the world, reported 6.82 billion yuan in revenue with profit reaching 890 million yuan in the first half. With the full integration of 4K technology into CSOT, TCL also expects "explosive growth" in its 4K television business in the second half.

The television sector, which is TCL's largest business sector by revenue, showed steady growth in the first half. According to the company's financial report, revenue from the television sector increased 20.3 percent year-on-year to 16.02 billion yuan in the first half.

Statistics from DisplaySearch, a leading global market research and consulting firm, showed that the total shipment of TCL televisions ranked third in the world in the first three months of the year.