The monthly shipment of brands in China TV market is 1.77 million units, the lowest in the past 13 months.

　　According to the data of "China TV market brand shipment monthly express" published by RUNTO,In February, 2024, the shipment of brand complete machines in China TV market reached 1.77 million units, a sharp drop of 26.6% year-on-year and 57.8% quarter-on-quarter.. After January’s shipments exceeded any month of last year, February’s shipments also reached the lowest level in the past 13 months.

　　Excluding the influence of the dislocation of the Spring Festival in two years, the cumulative shipment in January and February 2024 was 5.96 million units, an increase of 3.1% over the same period in 2023.

　　Monthly trend of brand shipment in China TV market for 13 consecutive months

　　Data source: RUNTO, unit: 10,000 units,%

　　At the same time, it is noted that February last year was the off-season after the Spring Festival. Although February this year was the Spring Festival month, the sales volume in the whole month still showed a certain growth year-on-year driven by the doubling of sales volume in the week before the Spring Festival. The retail volume in the first two months of this year has increased year-on-year, which may be a signal of sales recovery.

　　According to the online monitoring data of RUNTO, in January and February, 2024, the cumulative retail volume of online public retail channels (excluding content e-commerce companies such as Jikuai) in China TV market increased by more than 10% compared with the same period of last year, and the retail volume increased by more than 40%, with an average price of about 2,810 yuan, a year-on-year increase of 27% and an average size of 66 inches.

　　Under the shipping caliber, in February 2024, the total shipments of the top seven traditional major brands in China TV market, namely Hisense, Xiaomi, TCL, Skyworth, Changhong, Konka, Haier and their sub-brands, were about 1.65 million units, down 25.9% year-on-year and 57.9% month-on-month, and the combined market share was as high as 92.9%.

　　From January to February, the total shipments of the seven major brands were about 5.56 million units, an increase of 4.2% over the same period in 2023, and the growth rate was higher than that of the broader market.

　　Brand performance of the first camp

　　In terms of camps, the total shipment of TOP4 brand in the first camp (with an annual shipment of more than 6 million units) reached 1.41 million units in February, down 24.6% year-on-year, which was less than the market.

　　Xiaomi (including Redmi) shipped nearly 400,000 units in February, down about 30% year-on-year, and its market share reached 21.5%, down 1.7 percentage points month-on-month. The decline in market share was mainly due to the reduction of small-sized low-end products under the strategy of "emphasizing profits but neglecting scale".

　　Hisense, TCL and Skyworth (including sub-brands) shipped 1.03 million units in February, down 22.0% year-on-year, and the combined market accounted for 58.2%, up 3.3 percentage points from the previous month. The cumulative shipment in January and February was 3.33 million units, up by 14.2% compared with the same period of last year, and the combined market share increased by 5.4 percentage points.

　　Among them, Hisense (including sub-brand Vidda) and TCL (including sub-brand Thunderbird) shipped between 350,000 and 390,000 units in February. The shipment of Skyworth (including its sub-brand cool open) is about 290,000 units.

　　Brand performance of the second camp

　　The combined shipments of Changhong, Konka and Haier in the second camp (with an annual shipment of more than 1 million units) in February were about 240,000 units, down 32.9% year-on-year, and the total volume was not as good as that of the single brand in the first camp.

　　In addition, the total monthly shipments of the three brands decreased by about 30% year-on-year, and the combined market share was 13.3%, down 2.0 percentage points from the previous month. However, its cumulative shipments in January and February also increased compared with the same period of last year, reaching 880,000 units, with an increase of 0.8%.

　　Huawei’s shipments are still only tens of thousands, down about 20% year-on-year. At present, Huawei’s strategy mainly focuses on middle and high-end products. Although the scale has not started, the profit has improved.

　　Other brand performance

　　The four major foreign brands Sony, Samsung, Sharp and Philips shipped less than 100,000 units in February, down about 40% year-on-year.

　　It is worth noting that according to the industrial chain information, Samsung Electronics will use both the QD-OLED displayed by Samsung and the W-OLED panel displayed by LG in this year’s flagship product S90D OLED TV.

　　summarize

　　At the beginning of 2024, China’s economy continued to expand, but the growth rate slowed down year-on-year, and real estate sales also weakened. The government set the economic growth target for 2024 at around 5% again, and predicted that the final growth rate may also slow down to the benchmark of 4.6%, mainly due to the low cardinal utility fading and the continuous downward trend of the real estate market.

　　Under this economic background, the performance of China TV market shipments in the first two months of the new year was acceptable, at least it was a signal of recovery growth.The two major driving forces of China TV market in 2024 will be the big-screen promotion of sports in the New Year and the "trade-in of consumer goods".In view of the latter, subsidies may be borne by local governments instead of central finance, and the low energy efficiency of TV sets and high retention rate may be three hidden disadvantages.

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