[Press Release]

TCL Multimedia Technology Holdings Limited (“TCL Multimedia” or “the Group”, HKSE stock code: 01070) announced that according to the latest DisplaySearch report, as of the first quarter in 2012, the Group’s global LCD TV market share increased from 4.9% to 5.6%, bringing its ranking up to No. 5 from No. 7 in 2011. Its TV market share in the PRC Market was 18.1%, driving its ranking up to No. 1 from No. 2 in 2011. Its LCD TV market share in the PRC Market was 17.5%, pushing its ranking up to No. 2 from No.3 in 2011. It is the first time a Chinese TV enterprise has been ranked in the top five in terms of the global LCD TV market share.

The improvement in market share was attributable to the Group’s continuous focus on enhancing “speed and efficiency” of its operations and marketing strategies and to its dedication in the optimization of its products, marketing strategies, sales channels, costs and brand image, which resulted in satisfactory increases in sales volume in both the PRC Market and the Overseas Markets, especially the Emerging Markets. The Group’s monthly sales volume of LCD TVs in the first four months of 2012 amounted to 4,630,009 sets, up by 70.4% year-on-year, of which the sales volume of LCD TV in the PRC Market and the Overseas Markets increased by 29.5% and 163.7% year-on-year, respectively, to 2,444,947 sets and 2,185,062 sets, respectively, far exceeding the average growth of the industry.

In addition to the rapid sales growth, the Group continued to improve its product mix and the proportion of high-end products continued to increase. In April 2012, the Group’s sales volume of LED backlight LCD TV as a percentage of the total LCD TV sales volume was 72.0%. The sales volume of smart & internet TV and 3D TV in the PRC Market reached 339,279 sets and 145,064 sets, respectively representing 45.9% and 19.6% of the total shipment of LCD TV in China.

Furthermore, the Chinese government has just announced a new energy-saving home appliance subsidy program with subsidy amount of RMB 26.5 billion to promote the consumption of five types of home appliance that fulfill the energy-saving standards, including LCD TVs, air-conditioners, refrigerators, washing machines and electric water heaters. In this regard, TCL Multimedia is committed to the development of energy-saving and environmentally friendly products. All LED backlight LCD TV products the Group launched this year have satisfied the National Level 1 Energy Consumption Standard. More than 200 models of TV products have been accredited with the standard. Also, its entire range of LCD TV products will be designed in line with the standard in the future. Since the Group owns both TCL and Rowa brands in the PRC Market, it is expected that the Group will benefit considerably from the implementation of the energy-saving home appliances program, which will further boost the growth of the Group’s high-end TV sales.

See the original post here: http://www.marketwatch.com/story/tcl-multimedia-surged-to-top-five-global-lcd-tv-market-share-and-expected-to-further-benefit-from-the-latest-energy-saving-home-appliance-subsidy-program-2012-05-20

[Press Release]

At the Cannes Film Festival today, digital production company Digital Domain Media Group DDMG +9.79% , and twofour54, the Abu Dhabi government-backed media and entertainment hub, announced that they are collaborating to drive development of the local film, TV and media production industry in the Middle East.

Digital Domain Media Group (DDMG) will establish an animation, visual effects and motion capture studio and Digital Domain Institute media school in Abu Dhabi. The collaboration is designed to support the Emirate’s goal to become the region’s center of excellence for media content creation, growing both the industry and national talent.

DDMG will begin production of visual effects and animation in studios in twofour54 at the beginning of 2013, with plans to recruit and hire staff immediately from local and international talent pools. Over time the studio will employ upwards of 500 people. DDMG will develop a purpose-built 150,000 square foot (14,000 square meter) state-of-the-art entertainment production complex, which is expected to be operational by the end of 2015.

The new Digital Domain studio will create animated feature films, produce visual and 3D effects, engage in the production of original Middle Eastern-branded entertainment for global audiences and contribute to international productions. The studio will become part of Digital Domain’s global feature film VFX and animation pipeline, connected to its studios in Los Angeles, Vancouver, San Francisco, London, Florida and Mumbai.

The Digital Domain Institute/Abu Dhabi, modeled after the Digital Domain Institute in West Palm Beach, Florida, will train students in the essential skills of digital media production for entertainment, simulation and related applications. Classes at the Digital Domain Institute/Abu Dhabi are scheduled to begin early in 2014. The market development initiative and creation of the DDMG studio and school are funded by $100M (US) in grants from the Abu Dhabi government.

This marks the first time a major, global studio has established a presence in the region, highlighting the impact that twofour54 has had on the media industry in the Arab world. By bringing leading edge technologies and creative techniques to Abu Dhabi, DDMG will support the wider film and TV production industry and provide massive opportunities for talent and creative development in the region.

Separately, earlier this week, twofour54 announced that the Emirate of Abu Dhabi now offers one of the world’s most competitive production incentives — a 30% rebate for film, television and commercial media projects.

“We are incredibly excited to join twofour54 in building a strong foundation for the filmmaking industry in Abu Dhabi,” said DDMG CEO and Chairman John Textor. “There is tremendous opportunity to produce original entertainment content for Middle Eastern audiences worldwide, and to bring Hollywood work and our own original productions here as well. Pairing the studio and school enables us to help the Emirate to build a sustainable creative industries base. Abu Dhabi was the natural location for us given its strategic location, modern infrastructure and supportive government. We’re looking forward to grooming up-and-coming Arab filmmakers at a time of such great awakening in this part of the world.”

“Digital Domain represents the next great leap forward for twofour54 and Abu Dhabi — a strong move into digital production and the development of locally created feature films and TV content,” said Wayne Borg, Deputy CEO and Chief Operating Officer of twofour54. “The establishment of DDMG in Abu Dhabi is a significant event in the evolution of the media industry in the Middle East. It will provide incredible opportunities for young Arabs to develop skills and careers in an area of the media industry that has simply never existed before in the region.”

An award-winning digital production company founded in 1993, DDMG is a leading provider of digital visual effects and has contributed to more than 90 major motion pictures. twofour54 is the Abu Dhabi government-backed, media and entertainment hub which focuses on training and talent development, supports creative entrepreneurship and provides enabling production, post-production and broadcast facilities. twofour54 is home to more than 160 local, regional and international media companies including CNN, BBC, Ubisoft, Fox Intl Channels, Cartoon Network, Financial Times and Charisma.

See the original post here: http://www.marketwatch.com/story/digital-domain-announces-abu-dhabi-expansion-receives-100m-grant-for-animation-studio-and-educational-institute-2012-05-21