TCL Communication to invest US$80m in cloud venture with Cisco

TCL Communication Technology yesterday said it planned to invest US$80 million in the first phase of a cloud service platform that it is setting up with US giant Cisco as it steps up a push into internet-focused services.

The Guangzhou-based joint venture, 80 per cent-owned by TCL, will provide services including videoconferencing, which the electronics giant showcased in Hong Kong yesterday.

TCL Communication is one of the world's largest mobile-phone makers, which account for more than half of its products this year.

The videoconference services, which have so far been pitched at enterprise users, would be expanded to appeal to more users such as families and individuals, with user-friendly functions and high video quality, the company said.

Li Dongsheng, chairman of parent firm TCL Corp, said mobile internet offered huge opportunities for traditional enterprises, but also carried risk.

"You don't want to walk too slowly on the way of transition, but if you are too fast you may fall into traps, too," Li said.