In a surprising market development, Xiaomi has climbed into the top three monitor brands in China, as per the latest report from Runto Technology. The company's strategic focus on office productivity monitors has borne fruit, with overall monitor sales in the country witnessing a modest increase of 0.8% (4.95 million units) in the first half of 2024.
AOC Leads as Xiaomi Gains in China’s Monitor Sales
While the overall market saw a slight rise, traditional e-commerce sales declined by 0.7% year-over-year, indicating market maturity. Despite this, the sector still holds a dominant 91.7% share. Average monitor prices also fell by 8% to 1,064 yuan ($146), influenced by the expanding low-end market.
AOC retained its position as the leading monitor brand, although its growth slowed compared to the previous year. The company’s reliance on 27-inch QHD models, particularly the popular Q27G2S/D, while effective, may have restricted its growth potential.
HKC and Xiaomi’s Market Strategy
HKC, known for its gaming-focused lineup, secured the second spot. The brand’s emphasis on 27-inch QHD gaming monitors struck a chord with consumers, contributing to 80% of its sales.
Xiaomi’s rise to the third position highlights its diversified product approach. Unlike its rivals, Xiaomi concentrated on office productivity with a strong focus on 27-inch FHD monitors. This strategy seems to have captured a significant market share, particularly in the budget-friendly segment.
The expanding low-end market, now accounting for 2% more than the previous year, has been advantageous for Xiaomi and LingShe. Together, they command a significant 33% of the market below the 500 yuan ($69) price point.
Future of the Monitor Market
While the gaming segment remains a crucial driver for monitor sales, the increasing importance of remote work and online education is likely to boost demand for office-oriented displays. Brands that can effectively balance these two market segments are well-positioned for long-term success.
It will be intriguing to see how the monitor market evolves in the second half of 2024. Will Xiaomi be able to maintain its momentum, or will established players like AOC and HKC reclaim their lost ground? Only time will reveal the answers.
