(Yicai Global) July 31 -- Chinese TV maker Konka Group Co. [SHE:000016] aims to transform into an investment holding platform while listing its color TV business as a separate company, Chairman Liu Fengxi told Yicai Global.

Konka will look to develop new product lines by becoming an investment holding platform and expand through investments and mergers, Liu said. The firm also wants to create an Internet of Things ecosystem through direct investments.

"We will sell our existing products or businesses that do not conform to this development direction," he said. "So our future business will see both ups and downs, both acquisitions and divestments, as well as both upgrading and transformation."

Konka's multimedia business has recently carried out major restructuring, including a reorganization of the corporate make-up, Liu confirmed. Next, the firm is looking to list some businesses as spin-off companies.

Future growth opportunities for Konka's color TV business will lie in product upgrades, Chang Dong, Konka Group's president of multimedia business said. The company remains optimistic about the future of OLED TVs and will look to overseas market expansion for growth due to saturation of the domestic market.

Konka's TV business mainly carries out business overseas as an original design manufacturer through collaboration with local brands. Problems in the ODM supply chain this year have resulted in costs increasing and many branding businesses leaving the market. Konka also saw a double-digit decrease in sales in the first half of this year.

"In the next three to five years, we will consider overseas brand-building our strategy, under which we plan to make steps into developing countries before entering developed ones," Chang said.