(Yicai Global) Dec. 11 -- TCL Corp. [SHE:000100] will partner Cisco Systems Inc. [NASDAQ:CSCO] on industrial networking and smart manufacturing, as part of the Chinese home appliances behemoth's push to become a global player in the sector.

The firm aims to integrate it display business with its TV chip and mobile phone units, chief executive Li Dongsheng of TCL said during the 2017 Fortune Global Forum in Guangzhou on Friday.

The display sector remains TCL's major business, Li said, adding that TCL ranks third globally in terms of TV sales and expects to sell 23 million units this year. The company also makes handsets and various types of commercial display products. It is also a key supplier of displays for TV sets and mobile phones.

"We are also working on functional chips for TVs and smartphones and plan to integrate our display businesses to become a globally competitive player," Li said.

After growing its liquid crystal display (LCD) business, TCL has now entered the chip sector to enhance competitiveness. "China's semiconductor display industry has grown rapidly over the past few years. We will soon become the country with the biggest and most competitive semiconductor sector in the world," Li said.

TCL aims to sell more than 4 million TVs in the US this year, meaning its market share will reach 12 to 13 percent there, representing a significant breakthrough. TCL is also doing well in the Chinese TV market this year, Li said.

The firm derived almost half of its revenue last year from the overseas markets, meaning it is becoming an increasingly global company, Li said. In Europe, TCL has set up a factory in Poland and built a business and product design center in Paris, directly able to serve local clients, create jobs and generate tax revenues. TCL has also established a joint venture in Argentina.

Li believes TCL's overseas business will grow more rapidly than its China operations in the future, thanks to the Belt and Road initiative. "We hope TCL will become a truly global firm," he added.