While the Chinese TV market experiences a slight slump, TCL emerges as a surprising leader in April 2024 shipments, according to data from Runto Technology.
Overall branded TV shipments in China dipped 10.2% year-on-year in April, reaching 2.47 million units. This decline extends a year-to-date trend, with cumulative shipments down 3.2% compared to the same period in 2023.
Chinese TV market shrinks, but TCL bucks the trend with impressive growth
However, TCL defied the trend with an impressive 8% year-on-year growth in April shipments, reaching around 540,000 units. This surge makes TCL the brand with the highest growth for the month, solidifying its position at the top of the Chinese TV market.
TCL Surpasses Expectations
While established players like Hisense, Skyworth, and Haier saw shipment declines, TCL’s success can be attributed to several factors. The company may be benefiting from a focus on specific market segments or strategic pricing that resonates with consumers. Additionally, TCL’s efforts in brand recognition and marketing could be driving increased sales.
Xiaomi, another major player, also showed positive signs. Including its Redmi sub-brand, Xiaomi shipped approximately 450,000 units in April, capturing an 18.2% market share. This represents a 1.8% increase compared to March 2024. Xiaomi’s growth indicates continued consumer interest in its often-competitive TV offerings.
Xiaomi's Steady Growth
Meanwhile, Huawei’s strategic shift towards premium, large-screen TVs seems to be paying off. Despite lower shipment volume compared to TCL and Xiaomi, Huawei’s April numbers show a continued year-on-year increase and improved profitability. This suggests their focus on higher-end products is yielding positive results.
The Chinese TV market slowdown can be attributed to various factors, including economic uncertainties or a potential saturation in the replacement cycle for existing TVs. However, TCL’s success and Xiaomi’s steady growth demonstrate that opportunities still exist. It will be interesting to see how these brands, along with Huawei‘s strategic shift, continue to navigate the market in the coming months.
