TPV Technology aims to become the mainland's second-largest liquid-crystal display (LCD) television provider in two years by boosting its market share to at least 28 per cent.
The company's own brand of LCD televisions now accounts for 25 per cent of the mainland market, just behind Samsung and Philips, according to TPV executive director and senior vice-president Mondy Houng Yute.
The company plans to overtake Philips by spending 23 million yuan a year on its promotion and sales network. TPV is the world's largest flat-panel monitor manufacturer by volume.
Corporate finance director Shane Tyau said orders in hand had seen a double-digit increase so far this year. 'This is because we purchased a Royal Philips Electronics' manufacturing division [last year] and the market has been expanding,' He said.
Mr Tyau said the Philips division had become profitable a month after the acquisition.
The firm's next target is to cut operating costs to save US$100 million a year over the next three years.