In a surprising market shift, Xiaomi has surged into the top three monitor brands in China, according to the latest report from Runto Technology. The company’s strategic focus on office productivity monitors has paid off, as overall monitor sales in the country saw a modest growth 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 experienced a slight uptick, traditional e-commerce sales dipped by 0.7% year-over-year, indicating a maturing market. Despite this, the sector still dominates with a 91.7% share. Average monitor prices also dropped by 8% to 1,064 yuan ($146), driven by a growing low-end market.
AOC maintained its lead as the top monitor brand, but its growth faltered compared to the previous year. The company’s reliance on 27-inch QHD models, particularly the popular Q27G2S/D, while successful, may have limited its expansion.
HKC, known for its gaming-centric lineup, held the second spot. The brand’s focus on 27-inch QHD gaming monitors resonated with consumers, contributing to 80% of its sales.
Xiaomi’s ascent to the third position is a testament to its diversified product strategy. Unlike its competitors, Xiaomi prioritized office productivity with a strong emphasis on 27-inch FHD monitors. This approach appears to have captured a significant market share, especially in the budget-friendly segment.
The growing low-end market, now accounting for 2% more than the previous year, has been a boon for Xiaomi and LingShe. Together, they control a substantial 33% of the market below the 500 yuan ($69) price point.
While the gaming segment remains a significant driver for monitor sales, the growing importance of remote work and online education is likely to boost demand for office-oriented displays. Brands that can successfully balance these two market segments are poised to achieve long-term success.
It will be interesting to observe how the monitor market unfolds in the second half of 2024. Will Xiaomi be able to sustain its momentum, or will established players like AOC and HKC reclaim lost ground? Only time will tell.
(Via)
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