Last Year TV Sales in China Down 8.4% YoY... "Lowest in 10 Years"

Last year, TV sales in China decreased by 8.4% compared to the previous year, marking the lowest level in 10 years.

According to a report by local consulting firm Lunto Technology, as reported by Chinese media on the 19th, approximately 36.6 million TVs were sold in China last year, down 8.4% from the previous year. During China's largest shopping festivals, the '618 Shopping Festival' and 'Guanggun Festival (November 11)', TV sales also declined by about 10% and 20% respectively compared to the previous year.

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Lunto analyzed that as Chinese citizens increasingly spend time on entertainment other than TV, TVs are gradually being excluded from essential household items. They also added that the sharp rise in display panel costs in the third quarter of last year led to an overall increase in TV prices, negatively affecting consumer purchasing sentiment.

However, sales of large TVs and mini LED TVs increased, indicating that Chinese consumers are showing a tendency to seek "high-quality smart products."

Meanwhile, in the Chinese TV market, home appliance company 'Hisense' ranked first with a 23% market share (about 8 million units). It was followed by Xiaomi (about 7.7 million units) and TCL (about 6.8 million units).

The combined sales of the four major foreign brands in the Chinese TV market, including Samsung Electronics, Sony, Sharp, and Philips, fell below 1.5 million units last year. This represents a nearly 20% decrease compared to the previous year.

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