Yicai Global) April 24 -- Chinese television giant TCL spent 60 percent more on research and development in the first quarter, shelling out CNY1.6 billion (USD238 million), it said in a statement yesterday. 

The company filed 505 international applications under the Patent Cooperation Treaty and submitted 10,495 patent applications in total in the first three months. 

The Huizhou, Guangdong province-based firm, which designs, develops, makes and sells TVs, handsets, air conditioners, washing machines, refrigerators and other appliances, achieved revenue of CNY29.6 billion, up 15 percent, and profit attributable to shareholders of CNY779 million, up 6.6 percent. 
Editor: Ben Armour