TCL Communication sees H1 profit crumble to HKD 11 mln

(Telecompaper) TCL Communication Technology, the maker of Alcatel brand phones, saw its net profit plunge to HDK 11 million in the first half of 2016 from HKD 454 million a year ago. Revenues fell 17 percent year-on-year to HKD 10.93 billion, while the company's gross margin improved slightly to 20.4 percent from 19.3. TCL blamed the lower results on the slowdown in the smartphone market, driven by the weak economic climate and intense competition in the Chinese market. Its smartphone sales fell