TCL Communication sees Q4 sales fall 23%

(Telecompaper) TCL Communication Technology reported a fall in revenues and profits for 2015, as weak economic conditions and fluctuating exchange rates hit results towards the end of the year. Revenues were down 23 percent year-on-year to HKD 8.275 billion in the fourth quarter, led by drops of nearly 80 percent in China and the rest of Asia. In the company's biggest market Latin America, sales fell 15 percent to HKD 2.943 billion. Over the full year, revenues dropped 7 percent to HKD 28.558 bi