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India’s Machine Tool Market to Grow by USD 2.78 Billion (2024-2028), with AI-Driven Insights on Rising Industrial Automation Boosting Revenue – Technavio

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NEW YORK, Oct. 4, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Machine Tool Market in India  size is estimated to grow by USD 2.78 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 11.89%  during the forecast period. Rising industrial automation in India is driving market growth, with a trend towards adoption of 3D printing technology. However, fluctuations in raw material prices used in machine tools production  poses a challenge – Key market players include Accusharp Cutting Tools Pvt. Ltd., Ace Multi Axes Systems Ltd., Ahire Machine Tools, Ajinkya Industries, Alex Machine Tools Pvt. Ltd., Bharat Fritz Werner Ltd., Bhavya Machine Tools, Birla Precision Technologies Ltd., DMG MORI Co. Ltd., Gamut Machine Tools, Geeta Machine Tools Pvt. Ltd., General Machine Tools, HMT Ltd., ITL Industries Ltd, Jyoti CNC Automation Ltd., Lakshmi Machine Works Ltd., Lokesh Machines Ltd., Makino Milling Machine Co. Ltd., Okuma Corp., and Om International Machine Tools.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Technology (CNC machine tools and Conventional machine tools), Type (Metal cutting machines and Metal forming machines), and Geography (APAC)

Region Covered

India

Key companies profiled

Accusharp Cutting Tools Pvt. Ltd., Ace Multi Axes Systems Ltd., Ahire Machine Tools, Ajinkya Industries, Alex Machine Tools Pvt. Ltd., Bharat Fritz Werner Ltd., Bhavya Machine Tools, Birla Precision Technologies Ltd., DMG MORI Co. Ltd., Gamut Machine Tools, Geeta Machine Tools Pvt. Ltd., General Machine Tools, HMT Ltd., ITL Industries Ltd, Jyoti CNC Automation Ltd., Lakshmi Machine Works Ltd., Lokesh Machines Ltd., Makino Milling Machine Co. Ltd., Okuma Corp., and Om International Machine Tools

Key Market Trends Fueling Growth

The machine tool market in India is witnessing a notable trend towards the adoption of additive manufacturing, or 3D printing, technology. This technology offers several advantages, including lower manufacturing costs, faster production, ease of upgrades, low energy consumption, and reduced waste. International machine tool manufacturers are increasingly incorporating 3D printing technology into their offerings. In June 2023, IIT engineers introduced a metal 3D printer using Directed Energy Deposition (DED) technology. The ability to meet customer specification requirements is another significant factor driving the adoption of 3D printing in machine tools. Technavio predicts that prominent market vendors will focus on developing this technology further during the forecast period. The advancements in 3D printing are expected to significantly contribute to the growth of the machine tool market in India. 

The Indian machine tool market is witnessing significant growth, driven by trends in turning machines, electrical discharge machining, grinding machines, drilling machines, and eco-friendly coolants. Automation, advanced manufacturing processes, multi-axis arms, and robotics are also gaining popularity. Downtime reduction is a key focus, with electric vehicles and automotive components leading the way. Eco-friendly practices, artificial intelligence, and the Internet of Things are transforming manufacturing. Aerospace, precision manufacturing, 3D printing, CAD, and CAM are also thriving. Foreign direct investment in advanced machining techniques, high precision manufacturing processes, and integrated systems is increasing. Sustainable manufacturing, electrification, and high-quality components are essential for the future. Metal cutting and forming, 5-axis CNC milling, mechanical engineering, and metalworking continue to be core sectors. The market is poised for growth in sectors like aerospace, aircraft manufacturing, and semiconductor manufacturing. 

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Market Challenges

The machine tool market in India is significantly influenced by the price fluctuations of its major raw material, steel. The Russian-Ukrainian crisis and subsequent increase in steel prices have impacted the industry, with Russia being the second-highest exporter of semi-finished steel to India. The price volatility of base iron ore, a primary component of steel, also affects the market. In 2020, the pandemic led to a negative impact on raw material prices due to disrupted supply chains and lockdowns. However, in 2021, the resumption of supply chain operations and large-scale vaccination drives led to a decrease in raw material prices. Despite these fluctuations, the increasing competition among raw material suppliers due to the expansion of production facilities in various end-user industries compels them to pass on price increases to downstream industries, including machine tool manufacturers. These uncertainties in raw material procurement plans may hamper the growth of the machine tool market in India during the forecast period.The Indian machine tool market is witnessing significant growth due to increasing demand for precision manufacturing in sectors like aerospace, automotive, and electronics. Challenges include adopting advanced machining techniques such as 3D printing, Computer-Aided Design (CAD), and Computer-Aided Manufacturing (CAM). Digital transformation through Computerized Numerical Control (CNC) and smart manufacturing is crucial. Aircraft manufacturing and metal & mining require high-quality components, driving investment in advanced machine tools. Precision engineering, customization, and real-time monitoring are essential for sustainable manufacturing. Foreign direct investment in India’s manufacturing sector is expected to boost the market, with trends like electrification, adaptive control, and integrated systems shaping the future. CNC lathes, routers, and milling machines are popular choices for mechanical engineering and metalworking industries. Standardization through MTConnect and smart factories ensure efficient production and customization. Semiconductor manufacturing and manufactured goods also benefit from high-precision components and digital technologies.

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Segment Overview 

This machine tool market in India report extensively covers market segmentation by

Technology 1.1 CNC machine tools1.2 Conventional machine toolsType 2.1 Metal cutting machines2.2 Metal forming machinesGeography 3.1 APAC

1.1 CNC machine tools-  In India’s manufacturing sector, the demand for machine tools is on the rise, with a particular focus on Computer Numerical Control (CNC) machines. Manufacturers are prioritizing productivity and reliability, leading to the integration of industrial automation. CNC machines offer additional flexibility and computational capabilities compared to conventional tools. These advanced metalworking machines are used in various applications, including lathes, mills, lasers, abrasives, punches, presses, and more. CNC milling tools are commonly used in the automotive industry for manufacturing components such as transmissions, gearbox cases, engine cylinder heads, flywheels, wheels, pistons, and fuel injectors. Traditional lathe solutions, like vertical turning lathes, are also utilized for heavy-duty cutting in brake disc applications. The increasing production requirements and competition among manufacturers are driving the adoption of CNC machines in India. Key vendors in the market, like Lakshmi Machine Works Ltd., are introducing new products, such as the Smart Minimaster, an ultra-compact CNC lathe, to expand their market share. Automated machine tools, such as CNC machines, increase throughput and lower cycle times, ensuring product quality and consistency. Manufacturers are adopting various CNC machines, including grinding machines and vertical or horizontal machining centers, to manufacture components at higher production rates. This trend is expected to fuel the growth of the CNC machine tools segment of the machine tool market in India during the forecast period.

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Research Analysis

The Machine Tool Market in India is witnessing significant growth due to the increasing demand for manufactured goods and the production of advanced machine tools. Precision is a key factor in the Indian machine tool industry, with a focus on customization and the production of high-precision components. Multi-axis arms, robotics, and computerized numerical control (CNC) machines are popular technologies used in the industry. Downtime is a critical concern for machine tool manufacturers, leading to the adoption of smart manufacturing, integrated systems, and artificial intelligence. The Indian machine tool industry is also leveraging the Internet of Things (IoT) and electrification to improve efficiency and productivity. The market for machine tools in India is diverse, catering to various industries such as automotive components, electric vehicles, aerospace, precision manufacturing, metal & mining, and high-quality components. The adoption of sustainable manufacturing practices is also gaining momentum in the industry, making it an exciting space to watch.

Market Research Overview

The Machine Tool Market in India is witnessing significant growth due to the increasing demand for manufactured goods that require high-precision components. Advanced machine tools, such as CNC lathes, milling machines, turning machines, drilling machines, grinding machines, and electrical discharge machining, are in high demand for producing components with utmost precision. Digital technologies like Computer Numerical Control (CNC), real-time monitoring, adaptive control, and MTConnect are transforming traditional machine tools into smart manufacturing systems. The market is also witnessing the adoption of digital technologies like artificial intelligence, Internet of Things, and automation, leading to the development of smart factories. The market caters to various industries, including automotive, aerospace, metal & mining, and electronics, among others. Eco-friendly coolants and sustainable manufacturing practices are gaining popularity to reduce the carbon footprint. The market is expected to witness significant growth due to foreign direct investment, advanced manufacturing processes, and the increasing demand for high-quality components in various sectors.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyCNC Machine ToolsConventional Machine ToolsTypeMetal Cutting MachinesMetal Forming MachinesGeographyAPAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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RIA Growth Catalyst Partners with WealthFeed to Enhance RIA Prospecting and Acquisition with Best In Class Contact Data

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NEW YORK, Jan. 6, 2025 /PRNewswire/ — WealthFeed, an AI-powered prospecting platform, announced today a strategic partnership with RIA Growth Catalyst, a premier resource for helping RIAs accelerate inorganic growth. This collaboration will equip RIA Growth Catalyst users with enhanced tools, delivering up-to-date contact data and AI-driven insights to streamline RIA prospecting and acquisitions.

The partnership, launching in January 2025 and rolling out over the following months, integrates thousands of verified data points into the RIA Growth Catalyst platform. Users will gain access to critical information, including contact details, alma mater, net worth, and age — empowering them to streamline prospecting workflows, save time on data gathering, and focus on building meaningful relationships.

“Whether you’re searching for your next RIA acquisition, recruiting advisors, or building out your RIA client roster, the common denominator is human connection,” said Julien Baneux, founder and CEO of RIA Growth Catalyst. “By integrating WealthFeed’s data directly into our platform, we enable our users to focus on building relationships and achieving their growth goals.”

Sam Kendree, co-founder of WealthFeed, echoed this sentiment: “Julien and his team have built a remarkable platform that empowers RIAs to succeed in the competitive M&A landscape. By embedding WealthFeed’s insights into RIA Growth Catalyst, users will gain everything they need to thrive in their client acquisition strategies.”

To learn more about RIA Growth Catalyst’s AI-powered data platform purpose-built for inorganic acquisition, visit www.riagrowthcatalyst.com.

For media inquiries or additional information, please contact: info@wealthfeed.com.

About WealthFeed:

Based in New York City, WealthFeed is a leading SaaS Business Development platform for Financial Service Professionals. Leveraging advanced AI and data analytics, WealthFeed empowers Financial Advisors to grow their book of business, increase client retention, and grow wallet-share with current clients through our AI-powered Money-in-Motion platform. For more information, visit www.wealthfeed.com.

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SOURCE WealthFeed, Inc

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ImageTrend Acquires biospatial

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LAKEVILLE, Minn., Jan. 6, 2025 /PRNewswire/ — Today ImageTrend announces the purchase of biospatial, based in Durham, NC for an undisclosed amount. Founded in 2017, biospatial combines EMS electronic patient care reports (ePCR) with other electronic healthcare data sources using proprietary analytics and machine learning to support the missions of public sector and commercial healthcare entities. ImageTrend’s software transforms incident data into actionable intelligence to help healthcare and emergency service providers address systemic challenges and significantly impact the communities they serve.

“By integrating our products and data assets, we’re solidifying our combined ability to deliver unparalleled insights.”

“This strategic move combines the greatest strengths of two industry leaders bringing together best-in-class data collection with analytics and insights for the healthcare and emergency services space,” said Patrick Sheahan, Chief Executive Officer of ImageTrend. “ImageTrend collects 80% of the U.S. incident data, which when combined with biospatial’s intuitive and accessible platform will deploy powerful insights to drive community health and safety. This move also brings an abundance of opportunities to both of our customers who want to consolidate software providers.”

“By integrating our products and data assets, we are not just merging technologies, but also solidifying our combined ability to deliver unparalleled insights,” said Jon Woodworth, biospatial CEO. “This strategic acquisition unlocks new potentials for innovation, driving our mission to serve our customers better and foster data-driven decisions in emergency services and healthcare.”

About biospatial
Headquartered in Durham, NC, biospatial is a distinguished healthcare analytics business with an expansive data network. The company’s platform provides biospatial customers with near real-time access to electronic patient care reports (ePCR) for EMS transports from thousands of EMS providers in over 40 US states. biospatial collects and curates over 100,000 new ePCRs daily. Utilizing proprietary analytics and machine learning, biospatial supports customers across multiple industries, enhancing awareness, informing decisions, and improving outcomes. 

About ImageTrend
ImageTrend transforms incident data into actionable intelligence, empowering frontline teams to effectively manage surging demands and resource constraints, driving impactful change in the communities it supports.

Founded in 1998, the company serves more than 3,000 customers including 20,000 agencies across Fire, Emergency Medical Services and Hospital segments. With its deep industry knowledge and advanced data analytics capabilities, the software provider helps its customers streamline operations, shape long-term strategies, and dramatically improve outcomes. Its comprehensive software solutions and dedicated team provide the confidence and intelligence first providers need to tackle today’s challenges and prepare for tomorrow’s uncertainties.

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SOURCE ImageTrend LLC

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TCL Unveils Next-Gen NXTPAPER 4.0 Display Technology at CES 2025

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Adds Advanced TCL NXTPAPER Tablet and Smartphone
to Award-Winning Portfolio 

LAS VEGAS, Jan. 6, 2025 /PRNewswire/ — TCL, a pioneer in display across feature-rich smartphones, tablets, and connected devices, is elevating digital experiences to unprecedented levels at CES this year. Building on its comprehensive product ecosystem, TCL unveils the new NXTPAPER 4.0 display technology, the TCL NXTPAPER 11 Plus tablet, and the TCL 60 XE NXTPAPER 5G smartphone, marking significant advancements in enhancing visual clarity and comfort. TCL continues to ‘Inspire Greatness’ in daily life with the launch of its latest smart connectivity products, along with a strategic partnership with Microsoft to leverage advanced AI in TCL devices, reinforcing the commitment to providing users with innovative and accessible digital solutions.

The Future of Display Technology with TCL NXTPAPER 4.0

Driven by a mission to make technology more human, TCL’s pioneering NXTPAPER technology addresses everyday visual comfort challenges as screen usage continues to increase globally. With an unwavering dedication and a strong sense of purpose, TCL has been on a remarkable journey to transform the way we interact with technology.

TCL NXTPAPER 4.0 marks a significant advancement in display technology, focusing on user comfort and enhanced visual clarity. This latest release incorporates the sophisticated nano-matrix lithography technology, which improves display clarity and sharpness. Boasting a ΔE<1 true color display accuracy and 100% sRGB color gamut coverage, it ensures precise color reproduction for both general users and creative professionals, providing a more vivid and realistic experience. Thanks to advanced blue light purification and Circularly Polarized Light (CPL) technologies, the display expertly mimics natural light conditions, making the visual experience both appealing and easier on the eyes, whether for work or leisure.

TCL NXTPAPER 4.0 introduces the AI-driven Smart Eye Comfort Mode and Personalized Eye Comfort Mode. These innovative features offer an intelligent and personalized visual experience, which is capable of adjusting based on diverse usage scenarios and user preferences to optimize eye comfort, ensuring a more comfortable visual experience in daily use. By intelligently tailoring the screen’s brightness, contrast, and color temperature, it ensures optimal comfort tailored to your current activity without compromising visual quality.

Supported by leading global certification bodies such as TÜV, SGS and Eyesafe, TCL NXTPAPER 4.0 leads in offering safe, sustainable, and user-friendly display technology. It changes how we engage with digital content, providing high-quality visuals with a focus on health-centered technology.

Elevating Everyday with TCL NXTPAPER 11 Plus

Building upon the foundation set by NXTPAPER 4.0, the TCL NXTPAPER 11 Plus tablet not only upholds but advances the standards of eye comfort and display technology in personal devices. It seamlessly integrates the core advancements of NXTPAPER 4.0, bringing them to life in a format that balances performance, eye comfort, and personalization. The TCL NXTPAPER 11 Plus is designed to adapt to the diverse visual demands of modern users – from professionals needing a reliable tool for long work sessions to avid readers and multimedia enthusiasts seeking a gentler viewing experience. This tablet redefines personal viewing experience by offering a display that significantly reduces eye strain without sacrificing color accuracy or visual clarity.

Moreover, the TCL NXTPAPER 11 Plus is more than just a technological marvel; it represents TCL’s vision of a future where technology and user-centric design converge to create more human-friendly electronic environments. Its new features, including the AI-enabled Smart Eye Comfort Mode, Personalized Eye Comfort Mode, and the upgraded NXTPAPER Key, adjust to individual preferences and usage scenarios ensuring optimal comfort and efficiency. It is poised to set new benchmarks for what tablets can achieve, offering unmatched versatility and intelligence in a sleek, user-focused package. With the new TCL NXTPAPER 11 Plus tablet, experience the pinnacle of personalized, comfortable, and smart technology designed for today’s dynamic digital landscapes.

Viewing Comfort for All with TCL 60 XE NXTPAPER 5G

Another major addition to TCL’s innovative product lineup at CES is the TCL 60 XE NXTPAPER 5G, a smartphone that blends advanced display capabilities with user-focused design to set new benchmarks in digital health and comfort. The innovative NXTPAPER Key, which was first introduced at IFA 2024 on the TCL 50 PRO NXTPAPER 5G, has now come to North America. The TCL 60 XE NXTPAPER 5G, exclusive to the North American market, is adept at reducing blue light and glare to protect eyes during extended use. With the newly integrated NXTPAPER Key, users can switch to Max Ink Mode, which mimics an e-ink display that is perfect for reading. This mode delivers a paper-like viewing experience and can support up to a week of reading while silencing notifications to reduce distractions. The device also features a 6.8-inch FHD+ screen with a dynamic 120Hz refresh rate, providing fluid and immersive visuals for both reading and viewing.

The TCL 60 XE NXTPAPER 5G is designed to enhance user comfort with its Eye Care Assistant, which suggests breaks and adjusts the display for optimal viewing. Its Night Light Mode and Night-Friendly Screen adapt to varying light conditions, ensuring a comfortable viewing experience regardless of the environment. It comes with 256GB of internal storage and 8GB of RAM, which can be expanded by an additional 8GB, catering efficiently to all user requirements. For photography enthusiasts, the TCL 60 XE NXTPAPER 5G features a high-quality triple camera system with a 50MP main camera and a 32MP front-facing camera, ideal for capturing sharp photos and selfies. Enhanced with AI-powered features, the smartphone optimizes task management and efficiency, adapting seamlessly to user needs for a smoother and more responsive experience.

In addition to the TCL 60 XE NXTPAPER 5G, TCL introduces the TCL K32 smartphone, which offers a cost-effective way for more consumers to experience the benefits of 5G connectivity. With its ultra-fast speeds and seamless, stable performance, the TCL K32 ensures that advanced connectivity features are more accessible, bringing high-speed mobile technology to a broader audience without compromising quality.

A Holistic Ecosystem of Smart Solutions

With a commitment to providing users with holistic smart solutions, TCL has broadened its portable entertainment range with the previously launched TCL Projector A1. Designed for mobility, the compact and versatile TCL Projector A1 is perfect for both indoor and outdoor use, emphasizing easy transport and flexible viewing scenarios. Further enhancing its projector lineup, TCL has also unveiled the TCL PLAYCUBE, an innovative projector that sets a new standard for portable entertainment. The TCL PLAYCUBE presents the unique Magic Cube Design, a modular concept integrating aesthetics and functionality. It enhances portability and enables adjustable viewing angles. Whether at home or outdoors, it serves as a stylish item, fulfilling diverse entertainment needs and imparting modern elegance. Additionally, the built-in battery not only underscores its versatility for both indoor and outdoor use but also ensures that entertainment can be enjoyed anywhere, seamlessly integrating advanced entertainment into daily life and making it accessible and mobile.

In enhancing mobile connectivity, TCL is also proud to showcase its latest broadband solutions, which include the TCL LINKPORT IK511 5G RedCap USB Dongle and the TCL LINKHUB HH516 5G AI CPE. Currently the only commercially available 5G RedCap device in North America, the TCL LINKPORT IK511 delivers speeds up to 220Mbps and seamlessly integrates with existing 5G networks, meeting the market demand for high-performance, cost-effective 5G connectivity and accelerating the widespread adoption of 5G applications. At just 28.7g, this compact dongle is the smallest and lightest of its kind. Offering plug-and-play simplicity, broad operating system compatibility, and versatile management options, the device provides effortless convenience across both consumer and industrial (Machine to Machine) scenarios.

In addition, the TCL LINKHUB HH516 5G AI CPE router combines top hardware and AI technology, offering up to 7.01Gbps 5G downlink and 7.2Gbps dual-band Wi-Fi 7 speeds while supporting 512 connections. It features high-gain antennas and NR 4CC technology for wider coverage and faster speeds. The end-to-end AI QoS improves high-priority applications throughput by over 20% and reduces latency by over 10%. Additionally, the innovative AI ECO mode automatically adjusts power settings based on usage, reducing power consumption by over 10% compared to normal ECO mode. These improvements collectively enable consumers to experience exceptionally high network speeds and superior efficiency.

TCL’s showcase at CES 2025 highlights its unwavering commitment to innovation, presenting cutting-edge advancements across multiple product categories. By setting new industry standards, TCL is delivering smarter, and more user-friendly products that enhance the user experience and meet the evolving needs of consumers.

Pricing and Availability

TCL 60 XE NXTPAPER 5G: from $199, available in Canada from May 2025. US version to follow later this year.TCL K32: Under $100, available in US from September 2025TCL Projector A1: MSRP $499, available in USTCL LINKPORT IK511: $96, available in US at T-Mobile storesTCL LINKHUB 5G HH516: Available in H1 2025 globally

Prices may vary by country and channel.

To learn more about the TCL products announced at CES 2025, please visit: https://www.tcl.com/global/en/ces

About TCL Mobile

TCL Mobile specializes in the research, development and manufacturing of smartphones, tablets and connected devices. On a mission to deliver 5G for all, TCL Mobile helps its customers ‘Inspire Greatness’ in their lives through industry leading technology and solutions.

For more information on TCL mobile devices, please visit: https://www.tcl.com/global/en/mobile

About TCL 

TCL Electronics specializes in the research, development and manufacturing of consumer electronics including TVs, mobile phones, audio devices, smart home products and appliances. Combining thoughtful design and innovative technology to inspire greatness, our lineup delivers must-have features and meaningful experiences. As one of the world’s largest consumer electronics brands, our vertically integrated supply chain, and state-of-the-art display panel factory help TCL deliver innovation for all. For more information, please visit: https://www.tcl.com

TCL is a registered trademark of TCL Corporation. All other trademarks are the property of their respective owners.

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SOURCE TCL Communication Technology Holdings Ltd.

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