TCL has grown from a regional electronics player in China to one of the top global brands in televisions and smart appliances, but who really owns this sprawling empire, and what exactly does TCL control? The answer is a lot more layered than it might seem.

Public, But With Roots in the State

TCL Technology Group Corporation, the backbone of the TCL brand, is publicly traded on the Shenzhen Stock Exchange under the ticker 000100. But it didn’t start out that way. Founded in 1981 as a state-owned enterprise, TCL has since morphed into a hybrid of public and partially state-backed ownership, with no single majority stakeholder in control.

Founder Li Dongsheng, who remains chairman and has held the CEO role at various times, owns around 3.3% of TCL Technology. Government-linked investment entities such as Huizhou SASAC and Wuhan Optics Valley each hold 2 to 3%, while the majority, over 87%, is publicly held by retail and institutional investors. This mix means TCL operates like a market-driven firm with state influence, a structure that’s common among China’s largest industrial players.

Restructuring the House: The Rise of TCL Holdings

In 2019, TCL underwent a corporate split to sharpen its focus. It spun off its consumer electronics and appliances division into a new entity, TCL Industries Holdings (also known as TCL Holdings), which now oversees TCL Electronics, the TV and smart device arm. Meanwhile, TCL Technology retained control of high-tech ventures like display panel production (via CSOT) and solar energy (via TCL Zhonghuan).

Despite the split, TCL Technology and TCL Industries are closely intertwined. For example, TCL Electronics continues sourcing panels from CSOT, ensuring tight vertical integration in its TV business.

Subsidiaries, Subsidiaries Everywhere

TCL’s structure is a web of subsidiaries that span consumer electronics, component manufacturing, and even renewable energy.

TCL Electronics Holdings (HKEX: 1070) is the most visible face of the brand, making smart TVs, soundbars, and smartphones. It’s also the engine behind TCL’s climb to the number two global spot in TV shipments. TCL Communication, once known for BlackBerry and Alcatel phones, has been folded into this unit.

China Star Optoelectronics Technology (CSOT) sits at the heart of TCL’s display ambitions. It builds LCD, Mini-LED, and OLED panels, not just for TCL TVs but also for other brands. It’s a wholly owned part of TCL Technology and a key reason the company can compete with global giants on price.

TCL Smart Home (formerly Homa) covers air conditioners, fridges, and washing machines. It’s already among the world’s top four AC brands and the leading refrigerator exporter in China. And it’s backed by smart integrations and large-scale factories in China.

TCL Zhonghuan, acquired in 2020, pushes TCL into solar energy. It produces monocrystalline silicon wafers for solar panels and is quickly becoming central to TCL’s push into renewables and semiconductors.

Other subsidiaries include Tonly Electronics (audio, IoT devices), TCL Environmental Technology (e-waste and recycling), and TCL Financial Services, which collectively round out the group’s diverse portfolio.

Global Strategy: Localized, Scaled, and Brand-Driven

TCL’s expansion outside China has been fast and aggressive. It now operates in over 160 countries and has regional headquarters across six global business zones. The company has set up 20 manufacturing bases, including plants in Mexico, Vietnam, and Poland, to dodge tariffs, shorten supply chains, and serve local markets efficiently.

TCL also invests heavily in global R&D, with over 40 research centers worldwide focusing on AI, display tech, and smart home systems. In North America, TCL’s partnership with Roku turned it into one of the best-selling TV brands in the U.S. In Europe and India, it’s pushing smart appliances and affordable smartphones. And globally, TCL is promoting its own smart TV OS, Lingkong UI, to reduce reliance on Google and Roku.

The brand strategy? Mass-market affordability wrapped in next-gen features. Whether it’s budget-friendly Mini-LED TVs or the paper-like NXTPAPER phone displays, TCL’s message is clear: tech doesn’t have to be expensive.

Bottom Line

TCL’s ownership is split between founder Li Dongsheng, state-backed funds, and a wide public float. But in practical terms, the brand is steered by a mix of private ambition and state alignment. Through subsidiaries like CSOT, TCL Electronics, and TCL Zhonghuan, the company balances consumer-facing innovation with serious upstream tech investment.

It’s not a traditional tech giant like Samsung or LG, but it’s gaining ground fast. And if TCL continues executing its global strategy, it may not be long before this hybrid-owned Chinese conglomerate becomes a household name far beyond the TV aisle.

In related news, TCL CSOT sets its sights on dominating the esports display market, stepping beyond its role as a panel supplier. Also, we recently explored TCL NXTPAPER technology and how it compares to AMOLED and IPS in terms of eye comfort.

In a world dominated by glossy OLEDs and hyper-saturated AMOLEDs, TCL‘s NXTPAPER display technology offers something refreshingly different. It doesn’t aim to dazzle you with 2000-nit brightness or 144Hz refresh rates. Instead, it focuses on something most display makers have long neglected in the race to one-up each other: your eyes.

Originally introduced in 2021, NXTPAPER has quietly matured into one of the most human-centered innovations in mobile and tablet displays. It’s designed to reduce eye strain, minimize glare, and replicate the experience of reading or writing on real paper. But this isn’t just another matte LCD screen or a glorified e-ink hybrid. NXTPAPER blends hardware and software to create a next-gen viewing experience, one that’s been rigorously certified by TÜV Rheinland for visual comfort.

What Is NXTPAPER?

NXTPAPER is TCL’s proprietary display technology that mimics the comfort and clarity of paper, but it’s not an e-ink screen. It’s a full-color, full-motion LCD panel enhanced with a sophisticated multi-layer optical filter system. These layers reduce blue light exposure and eliminate glare without relying on third-party software filters or additional screen protectors.

Think of it as a matte screen that’s baked into the display itself. It delivers paper-like smoothness while still supporting videos, games, and rich color content. It’s especially useful for reading-heavy tasks like document editing, web browsing, and long eBook sessions. In devices like the TCL NXTPAPER 11 tablet and NXTPAPER 40 smartphone, the difference in comfort is immediately noticeable.

How It Works

Most standard LCDs transmit light from a backlight through a handful of layers: diffuser, polarizer, liquid crystals, and color filters. NXTPAPER adds several additional nano-layers that do three critical things: filter out harmful blue light, scatter reflections, and mimic the behavior of natural light.

Unlike OLED, which modulates brightness per pixel and can contribute to long-term image retention and eye fatigue, NXTPAPER uses a consistent backlit LCD architecture. It’s flicker-free in any lighting scenario, thanks to built-in DC dimming that regulates brightness without relying on high-frequency PWM (pulse width modulation), a common culprit behind eye discomfort in modern OLED displays.

Circularly Polarized Light and CPL Advantage

NXTPAPER also integrates Circularly Polarized Light (CPL) technology to mimic the way light behaves in nature. It reflects and refracts light more naturally, which makes reading on NXTPAPER screens feel less artificial than on traditional panels. You’re not just looking at a screen that reduces blue light, you’re experiencing a fundamentally different way of visual presentation.

NXTPAPER Key and Max Ink Mode

TCL is now doubling down on usability. The NXTPAPER Key allows users to instantly toggle between standard display mode and a reading-optimized experience. The Max Ink Mode, particularly in smartphones, enhances readability by offering deeper contrast and a more eBook-like feel, making it a practical feature for both casual reading and professional document work.

Eye Care Assistant and Smart Night Features

Beyond the display itself, TCL has built a broader wellness ecosystem around NXTPAPER. The built-in Eye Care Assistant uses AI-driven reminders and ambient light detection to encourage users to take breaks. It can gently nudge you when it’s time to look away, a small but thoughtful addition that aligns with ophthalmologist recommendations for screen use.

For nighttime use, NXTPAPER devices offer a low-intensity flashlight capped at just 10 to 30 lux, far less than the typical 90 lux of standard phone flashlights. This keeps late-night tasks like reading or checking messages more eye-friendly and far less disturbing to others nearby.

The screen also features automatic night mode support. It intelligently adjusts the display’s color temperature based on ambient light to ensure your eyes remain comfortable in low-light conditions, reducing abrupt strain during evening use.

Anti-Glare and True-to-Life Colors

The NXTPAPER display incorporates a matte nano-etched layer that cuts reflections and ambient glare. This allows users to read or watch videos outdoors without that mirror-like effect found on most glossy smartphones and tablets.

Crucially, TCL’s solution filters blue light at the hardware level. Unlike conventional low-blue-light modes that introduce an ugly yellow tint, NXTPAPER maintains vibrant, accurate color reproduction. Whether you’re watching a video or editing a photo, what you see remains true to life.

Adaptive Color Temperature and Paper-Like Texture

Another smart addition is TCL’s AI-optimized display engine that adjusts color temperature dynamically based on the time of day and surrounding light. It’s an adaptive layer that quietly works in the background to maintain visual comfort, similar to Apple’s True Tone but tailored for matte displays.

And if you’re using a stylus or writing on a tablet like the NXTPAPER 11, you’ll notice the screen isn’t just soft on your eyes, it’s tactile. The matte finish provides real texture, mimicking the feel of pen-on-paper while also being resistant to smudges and fingerprints.

NXTPAPER vs AMOLED vs IPS LCD

Let’s be clear, NXTPAPER isn’t built to win display shootouts for contrast ratio or peak brightness. Compared to AMOLED, it can’t deliver the inky blacks or the vivid punchiness that makes HDR content pop. It also isn’t as color-rich or fast-refreshing as flagship OLEDs used in gaming phones or high-end tablets.

IPS LCDs fall somewhere in between. While they’re more affordable and color-accurate than older tech like TN panels, they typically don’t excel at glare reduction or eye comfort. NXTPAPER, though based on LCD, leapfrogs conventional IPS by focusing on usability in real-world environments like classrooms, offices, or public transport.

So yes, NXTPAPER is a compromise, but a practical one. It doesn’t pretend to be a spec king. Instead, it carves out a much-needed niche for readers, students, and screen-heavy professionals who care more about their vision than ultra-vibrant animations.

The Bottom Line

NXTPAPER isn’t trying to replace AMOLED or OLED in flagship phones or TVs. It doesn’t need to. TCL is smartly targeting users who spend hours reading, writing, or studying on screens and don’t want their eyes to pay the price.

It’s the kind of tech that doesn’t scream for attention. But once you’ve used it, especially over a long workday or a reading marathon, going back to a standard panel can feel jarring. NXTPAPER is a reminder that sometimes innovation doesn’t have to be louder, brighter, or faster.

Sometimes it just needs to feel a little more human.

In related news, we recently broke down TCL’s Inkjet-Printed OLED technology and also shared a guide on how to calibrate your TCL TV for the best possible picture quality.

TCL TVs sold in the U.S., from budget 4-Series models to high-end QLED and Mini LED sets, include a wide range of picture settings. With a few careful adjustments, users can unlock much better image quality across all content types.

This guide outlines how to set up your TCL TV for Movies, Gaming, Live TV and Streaming, and Sports. It covers both SDR and HDR (including Dolby Vision) content and explains platform differences between Roku TV and Google TV.

Before You Start: Turn Off Eco and Adaptive Settings

Before adjusting any picture controls, users should disable automatic features that interfere with consistency. On Google TV models, go to Settings > System > Power & Energy and turn Energy Saver off. Also, turn off Adaptive Brightness, Contrast, or any Intelligent Picture options in the settings. On Roku TVs, set TV Brightness to Normal under the general settings menu. These steps ensure the TV will not override manual picture settings.

Movies and Cinematic Content

To get a film-accurate image in a dark room, start with the Movie picture mode. This preset reduces backlight intensity, warms the color temperature, and disables motion smoothing. On Roku TVs, press the star (*) button during playback to access the picture menu and select Movie. On Google TV, go to Settings > Picture > Picture Mode and choose Movie.

Adjust the backlight based on the lighting in your room. For a dim home theater, a 40–50% backlight level works well. In a brighter room, raise it to around 70–80%. Set contrast to 90 or higher for strong highlights. Use the Warm color temperature setting for more natural skin tones. Set Sharpness to 0 to avoid artificial outlines and turn off any motion smoothing options like Action Smoothing or Motion Clarity.

For HDR10 content, keep the Movie mode active, set Backlight and Contrast to 100, and turn Local Dimming or Local Contrast to High. On Dolby Vision content, choose Dolby Vision Dark for night viewing or Dolby Vision Bright in a well-lit room. TCL locks most settings in Dolby Vision mode, but users can still adjust brightness based on viewing conditions.

Gaming (Console and PC)

TCL TVs include a Game Mode that reduces input lag by disabling unnecessary processing. On Roku TVs, access this under Advanced Picture Settings. On Google TVs, either switch to the Game picture mode or ensure Game Mode or ALLM is enabled when a console is connected.

Keep contrast high and backlight at maximum for HDR gaming. Use Warm color temperature for accurate colors. Set Sharpness to 0 and turn off noise reduction. In HDR games, verify that Local Dimming is still set to High if available. Users should also calibrate HDR using their console’s built-in utility.

For Xbox and PC users with supported TCL models, enable VRR and connect through HDMI 2.1 ports. TCL automatically detects variable refresh signals when Game Mode is active. If the TV shows brightness fluctuations during VRR gameplay, consider setting Local Dimming to Low to stabilize the image.

PC users should rename the HDMI input to “PC” or “Computer” to force 4:4:4 chroma and better text clarity. Set the GPU to output Full Range RGB and ensure the TV’s black level is not clipping shadow detail.

Live TV and Streaming

For general TV watching, use the Standard picture mode. This profile balances brightness, contrast, and color for a wide range of content. Raise the backlight to suit your room lighting. On Roku TVs, select a brighter preset if you are watching during the day. On Google TVs, push the Brightness slider to around 70–100, depending on ambient light.

Keep contrast high and adjust color temperature to Normal or Warm if faces appear too cool. Moderate sharpness, around 10 to 20 on a 0–100 scale, helps with cable news or older YouTube content. Use Low or Auto noise reduction if the signal is low-quality. For motion, enable Low smoothing if you want smoother camera pans, or leave it off for a more natural feel.

In HDR or Dolby Vision streaming, use HDR Bright or Dolby Vision Bright modes for daytime viewing. These modes raise midtones to prevent images from appearing too dim in well-lit rooms. For evening or dark-room viewing, switch to HDR Dark or Dolby Vision Dark for a more accurate tone curve.

Sports Viewing

TCL’s Sports mode is tuned for fast motion and bright environments. Activate this mode during live games to boost clarity and motion smoothness. It increases backlight, contrast, and sharpness and often sets the color temperature to Cool.

Set Backlight and Contrast to 100 to maintain visibility in bright rooms. Sports mode typically enables aggressive motion interpolation by default. On Google TVs, set Blur Reduction and Judder Reduction sliders to high values. On Roku TVs, use Action Smoothing = High. This ensures players and fast-moving objects remain visible during pans.

Use a higher color saturation level (around 55–60) to make team jerseys and field colors look more vibrant. Avoid pushing this too far, or faces may look unnatural. Leave Clear Motion or LED Motion off to avoid flickering and loss of brightness.

For HDR sports, use HDR Bright or a bright Sports HDR mode if available. Keep Local Dimming on High to maintain image depth.

Final Thoughts

Each TCL model may have slight differences in menu structure, but the core settings remain consistent. Disable adaptive features, choose a mode based on the content type, and fine-tune color and brightness to suit your environment. Calibrating each HDMI input separately ensures every source looks its best, whether you are watching a film, gaming online, or streaming daytime TV.

Buy TCL QM8K TV Now on Amazon

In related news, we recently broke down how TCL’s inkjet-printed OLED technology works and explored what makes the TCL Z100 soundbar stand out.