TCL Electronics, a partially state-owned Chinese multinational electronics company, is set to to increase its stake in SEMP TCL, a manufacturer of electronic components, to 80% for $63m. “We are bullish on Brazil’s market. Though Covid-19 is wreaking economic havoc worldwide, it doesn’t undermine our strong faith in globalization of our business. TCL Electronics ranks in Top 2 by TV shipments in global wide and we certainly will continuously pursue of our globalization strategy. SEMP TCL is expected to enhance our presence in Brazil and afterwards, we will extend our business into other South American countries in larger sense,” Kevin Wang, TCL Electronics CEO.