The latest RUNTO report indicates that Tencent was the leading smart TV box retailer in China as of November 2023. The online retail sales of smart boxes were 113,000 units with an average online sales price of 201 yuan ($). The results indicate a 44.6% decline year-on-year and comes amidst greater regulation of the online streaming apps, amongst other factors.
Several policies have been introduced that placed restrictions on startups that may have negatively affected sales of smart boxes. The RUNTO report indicates that Tencent remains the market leader with a share of about 20% and a slight increase year-on-year. The other leading brands in the smart box sales arena in China were Tmall Magic Box (19.8%), Saimini (11.5%), Xiaomi (9.4%), and Huawei making the top five.
The various smart box brands experienced a mixed bag of fortunes according to the RUNTO data. Tmall Magic Box had a 2.4 percentage points increase from the previous year, with the 7C Youth Edition driving the sales. The 7C Youth Edition has been the best-seller for several consecutive months and accounts for 30% of the market share in the sub-100 yuan category. The third-best brand Saimini has re-engineered its price regime with the average price of its models decreasing to 60 yuan, which translated to a greater volume of units sold within the period. Xiaomi accounts for up to 30% of the market share in the 200-499 yuan mid-range category, placing it in the fourth position overall.
The market outlook of smart box sales in China could continue in the same trajectory as highlighted by the RUNTO data. There are however still some strong players in the market that may continue to hold the aces even with declining demand for TV boxes in the country.
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