Chinese TV shipments in October3.855 million units,75Inch has become a new focus,Hisense,TCL leads the growth tide, Xiaomi Huawei followed.
In October 2024, China's TV market ushered in a strong recovery, with shipments reaching 3.855 million units, a year-on-year increase of 3.1%. This growth not only broke the eight-month year-over-year recession trend since February, but also marked a gradual recovery in the market. At the same time, the month-on-month growth also reached 20.8%, achieving growth for three consecutive months, further showing the gradual recovery of the market. In particular, sales of ultra-large TVs of 75 inches and above have increased significantly, and consumer demand for larger, higher-quality audiovisual experiences has continued to rise, driving the industry forward.
1. Analysis of market shipments
According to data from Lotu Technology, in October 2024, the top eight traditional main brands in China's TV market - Hisense, TCL, Xiaomi, Skyworth, Changhong, Huawei, Konka, Haier and their sub-brands shipped a total of 3.715 million units, an increase of 6.0% year-on-year. This growth rate is significantly higher than the growth level of the overall market, indicating that these leading brands dominate the market share competition, with a combined market share of 96.4%. Judging from the performance of these brands, the market is gradually becoming more concentrated, and the competition between brands is becoming more and more intense.
Chart: Monthly trend chart of brand shipments in China's TV market for 13 consecutive months
2. Brand performance analysis
- Hisense: As the market leader, Hisense ranked first in October shipments with nearly 900,000 units, and its market share exceeded 60%, reaching 60.6%, which set a new high for the year. Hisense's success is due to its strong technology research and development capabilities and rapid response to changes in market demand, especially in the field of large-screen TVs and smart TVs.
- TCL: TCL ranked second with about 800,000 units shipped, and ranked first in the TOP4 year-on-year increase in cumulative shipments from January to October 2024. TCL's rich choices in the product line and its layout in the field of smart TVs have enabled it to maintain strong market competitiveness.
- Xiaomi: Xiaomi shipped about 700,000 units in October, up 6.2% year-on-year, and ranked third with a market share of 17.9%. Thanks to its strong Internet marketing capabilities and the ecological layout of smart hardware, Xiaomi has established a solid brand influence among consumers, especially in the field of mid-to-high-end products.
- Skyworth: Skyworth ranked fourth with about 640,000 units shipped. As a veteran enterprise in the domestic TV market, Skyworth is still in the forefront with its technology and market reputation accumulated over the years.
- Huawei: Huawei shipped more than 150,000 units in October, up about 30% year-on-year. With its excellent technology and ecological integration with other smart devices, Huawei TVs have gradually gained a place in the market, especially in 5G smart TVs and high-end products.
3. Market trends and technical details
According to data from Lotu Technology, the product sales structure of China's TV market is undergoing profound changes. The data for the third quarter showed that while the overall retail sales declined year-on-year, the total retail sales increased by about 8% year-on-year, reaching 24.8 billion yuan, and the average unit price rose to 3,747 yuan, an increase of 11.7% year-on-year. Behind this phenomenon,Mainly due to the fact that TV manufacturers have not adjusted the price with the decline in panel prices in the context of panel price increases,At the same time,The upgrade of product structure has also pushed up the overall price level.
From the perspective of size, 75-inch TVs have become the largest size in the retail market, with a sales share of 20.8%, an increase of 2.0 percentage points over the same period last year. At the same time, the sales share of 75-inch and above super-sized TVs has reached 31.9%, an increase of 5.9 percentage points year-on-year. In particular, the sales of 85-inch TVs increased by 48.4% year-on-year, while the sales of 100-inch TVs increased by 182.7%.
This trend shows that consumer demand for large-screen TVs is growing, driving technological advancements and product innovation across the TV industry. With the continuous improvement of consumers' requirements for viewing experience, large screen TVs have gradually become the core products of home entertainment centers. In addition, with the development of smart home, the intelligent function and networking ability of TV have become an important feature that cannot be ignored.
4. Editor's Views & Market Observations
In the view of China Exportsemi, these changes in China's TV market reflect the trend of consumption upgrading and the profound impact of technological progress on the market structure. With the increase in demand for large-screen TVs, the TV industry has gradually gotten rid of the traditional low-price competition situation and turned to high-quality, high-tech products. Consumers' pursuit of audio-visual effects, especially the demand for large screens, high resolution, and intelligence, has become an important driving force for market transformation.
From a technical point of view, the TV industry is undergoing a comprehensive upgrade from hardware to software. In particular, advances in the fields of TV display technology, artificial intelligence, and 5G communication technology have made TV not only a display tool, but also a part of home entertainment, smart home, and the Internet of Things. Manufacturers have increased investment in the integration of hardware technology, content resources and user experience, and strive to provide a richer home entertainment experience.
5. Market outlook and future development
Looking ahead, China's TV market is expected to continue to maintain its growth momentum, especially driven by consumption stimulus measures such as the "trade-in" policy and the "Double 11" promotion, and the year-end sales performance is worth looking forward to. As TV manufacturers continue to promote technological innovation and flexibly adjust their product mix according to consumer demand, the distribution of market share will become more diversified and intense.
In addition, the future development of the TV industry will also be closely related to the popularization of smart home, 5G technology and consumption upgrades. In this environment, TV will no longer be just a single device in the family, but become a smart terminal integrating entertainment, life, social networking, and office. Therefore, TV manufacturers need to improve their competitiveness through further technological innovation and user experience optimization.
6. Conclusion
Overall, shipment data for China's TV market in October 2024 shows a strong recovery in the market and highlights the growth in demand for large-screen TVs of 75 inches and above. Brands such as Hisense, TCL, and Xiaomi have performed well, while the rise of emerging brands such as Huawei shows that China's TV market is experiencing diversified competition. China Exportsemi believes that with the continuous progress of technology and the increasing upgrading of consumer demand, the future TV market will pay more attention to product differentiation and intelligence, and enterprises will face more opportunities and challenges in innovation and improving user experience. The year-end consumption boom has also brought new growth momentum to the TV market, and the overall market outlook remains positive.
