On the evening of October 25, AMTC announced its third-quarter report for 2024, revealing a revenue of $22.29 million for the first three quarters, representing a year-on-year increase of 27.39%. The net profit attributable to shareholders reached $1.88 million, growing by 7.93%, while the net profit excluding non-recurring items was $1.78 million, a year-on-year increase of 17.28%.
AMTC attributes its revenue growth to the robust development of its smart display terminal business and the LED supply chain. Particularly notable is the performance of its smart display terminal business, which ranks second in industry shipments, showcasing AMTC’s successful strategies in a highly competitive environment.

Challenges: Shifting Dynamics in the Television Brand Market and ODM Industry
The performance of the ODM market is closely tied to the overall health of the television terminal market and the outsourcing strategies of brand enterprises. The North American market has firmly established itself as the world’s leading television market, attracting significant attention from major television brands. A notable trend in recent years is the rise of emerging brands, which are increasingly competing with established leaders.
The turning point between emerging brands and traditional giants (such as Samsung, TCL, and Hisense) occurred in 2020. Prior to that, the market share of traditional brands had been steadily increasing; however, since 2020, emerging brands like Walmart (ONN) and BBY (Insignia) have seen their combined market share grow from 9% to 20% by 2023. These emerging brands target the cost-performance market. Amid a slowing global economy, consumer purchasing power for mid-to-high-end products has quickly declined, positioning these emerging brands to seize growth opportunities.
Three key drivers contribute to the development of these emerging brands:
- Channel Advantages: In the U.S., high labor and logistics costs, along with longer supply cycles, mean that offline shopping remains prevalent. Emerging brands backed by major distributors have a distinct advantage in marketing and price competition. For instance, ONN’s market share rose to 12% in 2023, positioning it as a leader among emerging brands.
- ODM Production: ODM manufacturers help emerging brands reduce operating costs. In recent years, the continued overseas expansion of ODM firms has further controlled production costs, enhancing the cost-performance advantage for these brands.
- Content Operations: The ability to manage content operations has become crucial for future development in the television industry. As the television market matures, the evolution of hardware has slowed, shifting the focus to content. In the U.S., OTT streaming services, led by companies like YouTube, Netflix, Disney, and HBO, dominate the market, becoming the primary method of content delivery and revenue source. Some companies, such as Roku and Vizio, have even reported profits from content operations surpassing hardware sales. Thus, content operation capabilities are essential for the rise of these emerging brands.
Despite these positive external factors, the internal competition within the ODM industry remains fierce. Multiple industry reports indicate that while the market has expanded, it is still plagued by intense low-price competition, forcing ODM manufacturers to balance between shipment volumes and profitability. The shifting dynamics in television brands do not resolve the competitive pressures within the ODM sector, posing a significant challenge for ODM enterprises to distinguish themselves in the market.
Turning the Tide: AMTC’s Television ODM Business Hits New Shipment Record
In its third-quarter report, AMTC noted that “in the face of a complex and changing market environment, the company’s core business segments—smart display terminals and the LED industry chain—are actively seeking change and exploring new paths for growth.” According to relevant institutional data, AMTC shipped 9.5 million units in the first three quarters of 2024, achieving over 10% growth and ranking second globally.
A review of AMTC’s recent strategies reveals a clear focus on enhancing the added value of its television products, which has been a key reason for maintaining a steady performance in its television ODM business.
From the perspective of products and technology, AMTC is well-positioned to navigate the expanding Mini LED-backlit television market. This is primarily due to its vertically integrated operations in the LED field and its core supply chain advantages in Mini LED backlighting. Leveraging this advantage, AMTC can assist clients in upgrading their LCD televisions and enhancing brand value through Mini LED televisions. In 2023, AMTC’s television ODM division began accepting orders for complete Mini LED television units.
From the client acquisition perspective, AMTC’s television ODM business has deepened its foothold in the North American market, focusing on emerging brands that emphasize local channels and content OS operations. Currently, emerging brands like Amazon and ROKU are increasing their ODM order volumes as the market expands, providing ample momentum for AMTC’s further growth.
Additionally, in terms of traditional brands, the acquisition of Vizio by Walmart enabled AMTC to successfully enter the Vizio supply chain in March 2024, making it the first ODM supplier to service both Vizio and ONN. Reports indicate that Walmart (ONN), Best Buy (Insignia), and Vizio collectively account for nearly 60% of the ODM market share in the U.S., with AMTC being one of the major ODM manufacturers.
From a capacity perspective, AMTC’s factory in Vietnam, as its first overseas facility, plays a crucial role in regional manufacturing and overseas supply. This allows AMTC to maintain its existing North American client base while actively seizing market opportunities in South America and Southeast Asia, marking an important initiative in expanding its client pool and providing new momentum for its development.
In the long run, with continuous upgrades in technology, products, and capacity, AMTC still has significant room for improvement in its ecological position within the television supply chain, which will further enhance its competitiveness among clients. AMTC has expressed its commitment to adopting more mature production models to navigate the challenges of intense competition and carve out a path for efficient, innovative, and sustainable development.
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