TCL Communication Technology Holdings, the handset unit of China's largest consumer-electronics maker, reported a fourth-quarter loss as competition in its home market increased.
The net loss was HK$9.25 million (US$1.18 million), compared with a profit of HK$65.3 million a year earlier, the company said. Sales fell five percent to HK$1.54 billion.
TCL Communication, a unit of Huizhou, South China-based TCL, cut handset prices to compete with Nokia and Samsung. in China, the world's biggest mobile-phone market.
The mobile-phone maker sold 4.1 million handsets in the fourth quarter, 25 percent more than a year earlier, it said.
Full-year shipments climbed 3.5 percent to 11.9 million phones. Full-year profit more than doubled to HK$33 million because of a tax refund, TCL said.