TCL Technology closes semiconductor division
China's electronics conglomerate TCL is reported to have dissolved its Moxing Semiconductor joint venture.
Reports say more than 100 employees at the Guangzhou headquarters, as well as dozens of people in Shanghai, Shenzhen and other sites will be made redundant.
TCL launched Moxing Semiconductor in March 2021 to focus on the design, development, production, sales and after-sales service of semiconductor integrated circuit chips. However, it's believed that more than two years later, progress was slow and Moxing had failed to announce any significant product developments.
The closure of Moxing is not TCL's first failed attempt to break into the semiconductor space. The firm also launched a division called TCL Semiconductor, which it cancelled in December 2021.
However, the company has not completely given up. It still operates TCL Huanxin Semiconductor, which produces power semiconductors and has more than 500 employees.
