In August 2023, data from Runto Technology showed a retail volume of approximately 2.95 million televisions in China’s open online retail channels, marking a 20% drop compared to August 2022.

Dominance of Traditional Brands: Xiaomi and Hisense in Tight Race

The dominant players in the market remained the top seven traditional brands: Xiaomi, Hisense, TCL, Skyworth, Changhong, Haier, and Konka. Together, their total shipments for the month came close to 2.75 million units, inclusive of their respective sub-brands.

Hisense, with its sub-brand Vidda, took the lead in monthly sales, shipping slightly over 600,000 units. Xiaomi, inclusive of its Redmi sub-brand, closely followed with shipments around the same figure, positioning it in the second spot. Xiaomi has maintained its dominance in the Chinese TV market for the previous four years. From January to June 2023 alone, Xiaomi shipped almost 4 million units, capturing a commendable 23.3% market share.

TCL and its sub-brand, Leiniao, shipped about 580,000 units, coming in third. Skyworth and its Kukai sub-brand delivered around 570,000 units, standing fourth. An interesting observation is the similar shipment numbers among the top four brands. Notably, these brands have been emphasizing the 100-inch TV segment, hinting at potential market trends.

Changhong, Konka, and Haier formed the second tier of brands. Their combined shipments for August totaled roughly 370,000 units. This represented a significant year-on-year decline of 32.4%, resulting in a combined market share of just under 15%.

Huawei witnessed a substantial dip in its shipments with a 30% year-on-year drop. Meanwhile, the combined shipments of major international brands – Sony, Samsung, Philips, and Sharp – were around 100,000 units, down by 30% from the previous year. Their collective market share stood below 5%.

Overall, August 2023 saw a noticeable contraction in China’s TV sales. While traditional brands like Hisense and Xiaomi remained significant contributors, there’s a visible trend towards larger TV sizes. Simultaneously, some brands, especially international ones, are struggling to maintain their footing in the market.

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(Via)

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