Overseas Shipment of 75-inch and above TCL TV
Surges 78% YoY in First Half of the Year
HONG
KONG, July 21, 2024 /PRNewswire/ -- TCL
Electronics Holdings Limited ("TCL Electronics" or the
"Company", 01070.HK) today announced its global shipment
data for the first half of 2024. Benefiting from the Company's
proactive global market expansion and effective enhancement of
brand influence, shipment of TCL TV achieved a notable 12.9%
year-on-year ("YoY") increase in the second quarter of 2024,
reaching 6.68 million sets with a 14.3% quarter-on-quarter growth.
In the first half of 2024, shipment of TCL TV reached 12.52 million
sets, representing a 9.2% YoY increase.
The Company's large-screen and high-end products continued to
gain traction among global consumers. The global shipment of TCL TV
of 65-inch and above rose by 14.5% YoY, with its corresponding
proportion increasing to 23.6%; global shipment of TCL TV of
75-inch and above saw a substantial 34.5% YoY increase, with its
shipment proportion reaching 11.8%. The overall average TV size
also increased by 1.8 inches YoY, from 49.9 inches to 51.7 inches.
The shipment of TCL Electronics' mid-to-high-end quantum dot
("QLED") and Mini LED TVs experienced significant growth, with
global shipments increasing by 64.4% and 122.4% YoY, respectively.
Shipment of Mini LED TV, in particular, maintained a global leading
position.
Product Structure Optimisation and Targeted Marketing
Investment Drive Leading Market Share Worldwide
TCL Electronics' exceptional performance in overseas markets
during the first half of 2024 is noteworthy. Shipment of TCL TV in
the international markets grew by 10.4% YoY, with a significant
77.9% YoY increase in the TV shipment of 75-inch and above, further
optimising the product mix. Through cooperation with important
sports tournaments such as the Copa América, the Company invested
precisely in brand marketing, and expanded the coverage in key
channels in regions such as North
America, Europe and
Emerging Markets1. As a result, TCL TV ranked in the top
five in 30 countries worldwide2, and the TCL brand was
recognised in the prestigious "Google x Kantar BrandZ Top 50 Chinese Global Brand
Builders" for the eighth consecutive year.
As a pioneer in Mini LED display technology, TCL Electronics
leveraged its well-established global channels to swiftly roll out
its cutting-edge Mini LED TV products. The launch of 115-inch
QD-Mini LED TV in North America,
Europe, the Middle East, Africa and Asia
Pacific garnered widespread attention. In the first half of
2024, shipment of TCL Mini LED TV in overseas markets saw a
remarkable 124.7% increase YoY.
In terms of regional performance, shipment of TCL TV in
Europe and emerging markets
maintained an upward trajectory in the first half of 2024. TCL
Electronics' ongoing efforts to expand channels in key countries
yielded positive results. In the European market, shipment of
TCL-branded TV increased by 40.1%, securing second place in retail
sales volume market share in France, Sweden, and Poland, and third place in the Czech Republic and Spain3. In Emerging Markets, the
Company's proactive approach to introducing competitive new
products in certain regions and strengthening brand marketing paid
off. Shipment in Latin America and
the Middle East and Africa increased by 11.6% and 25.4% YoY,
respectively. The retail sales volume market share in the Philippines, Australia, Myanmar, and Pakistan remained at the top of the
industry3. In North
America, the Company continued to promote its
mid-to-high-end strategy and actively adjusted its channel and
product mix. Shipment of TCL TV of 75-inch and above rose by 46.9%
YoY, with its corresponding proportion increasing by 2.8 percentage
points YoY to 8.4%, as overall shipment remained stable. Also,
market share of TCL TV in terms of retail sales volume in the U.S.
increased by 0.1 percentage point, solidifying its position as the
second-largest player in the market4.
Adherence to Brand-Leading Strategy, Continued Promotion of
"TCL+Falcon" Dual Brand Strategy
Despite the persistent decline in domestic demand, which led to
a 10.7%5 YoY decrease of TV retail sales volume in
the PRC market in the first half of 2024, TCL Electronics
demonstrated resilience. By seizing policy opportunities such as
"trade-ins of consumer goods" and leveraging the strength of its
"TCL + Falcon" dual brand strategy, coupled with the approach of
upward market expansion and targeting younger demographics, the
Company achieved a 5.4% YoY increase in shipment in the PRC market.
Notably, the YoY growth rate of Falcon-branded TV reached an
impressive 66.4%. According to CMM omni-channel sales
data5, the retail sales volume market share of TCL TV
(TCL + Falcon) in the PRC market increased by 2.3 percentage points
YoY to 20.0% in the first half of 2024, securing the second
position. Meanwhile, the retail sales volume of TCL Mini
LED TV in the PRC market remained top 1 in the first half of
2024.
While steadfastly executing the "TCL + Falcon" dual brand
strategy, the Company also actively adjusted its product structure
to further penetrate the mid-to-high-end market. In the first half
of 2024, TCL TV shipment of 65-inch and above and 75-inch and above
in the PRC market increased by 6.7% and 17.7% YoY with their
corresponding proportion increasing by 0.6 percentage points and
3.5 percentage points to 51.5% and 33.2% respectively.
Looking ahead, TCL Electronics remains committed to its
development strategy of "Lead with Brand Value, Excel in Global
Efficiency, Drive with Technology, Thrive on Global Vitality". By
actively implementing the all-category layout of "Intelligent IoT
Ecosystem", the Company aims to provide consumers with a more
comfortable life experience and strives to become a world-leading
smart device enterprise.
Shipment Data for
the First Half of 2024 (unaudited)
|
|
Unit: Set
|
Large-sized display
– Shipment of TCL TVs
|
12,515,740
|
- Proportion of TCL
TV of 65 inches and above by shipment
|
23.6 %
|
- Proportion of TCL
TV of 75 inches and above by shipment
|
11.8 %
|
About TCL Electronics
TCL Electronics Holdings Limited
(01070.HK, incorporated in the Cayman
Islands with limited liability) was listed on the mainboard
of the Hong Kong Stock Exchange in November
1999. It is engaged in display business, innovative business
and internet business. TCL Electronics actively transforms and
innovates under the strategy of "Lead with Brand Value, Excel in
Global Efficiency, Drive with Technology, Thrive on Global
Vitality". Focusing on the mid-to-high-end markets around the
world, the Company strives to consolidate the "Intelligent IoT
Ecosystem" strategy and is committed to providing users with an
all-scenario smart and healthy life while developing into a
world-leading smart technology company. TCL Electronics is part of
the Shenzhen-Hong Kong Stock Connect program and is included in the
Hang Seng Stock Connect Hong Kong Index, the Hang Seng Composite
MidCap & SmallCap Index and the Hang Seng Corporate
Sustainability Benchmark Index. Besides, it has received Hang Seng
Index's ESG rating of A for consecutive years since 2018.
For more information, please visit the investor relations web
page of TCL Electronics at http://electronics.tcl.com
or follow the WeChat Official Page of TCL Electronics investor
relations.
1
|
Emerging markets
includes countries in Asia Pacific, Latin America, the Middle East,
Africa.
|
2
|
Data source: GfK,
Circana, with the statistical period spanning from January to May
2024.
|
3
|
Data source: GfK,
with the statistical period spanning from January to May
2024.
|
4
|
Data
Source: Circana, with the statistical period spanning from
January to May 2024.
|
5
|
Data source: CMM
omni-channel sales data, with the statistical period spanning from
January to June 2024.
|
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SOURCE TCL Electronics Holdings Limited