On July 20th, TCL Electronics released its global shipment data for the first half of the year, revealing a strong performance in the Mini LED TV segment.
TCL Electronics, a leader in display, internet, and innovative business sectors, offers a wide range of large, medium, and small display products, as well as intelligent commercial display products.
Overall, TCL’s global smart TV shipments reached 11.46 million units in the first half of 2023, a 12.9% increase year-on-year. The growth was driven by a recovering consumer market and the success of the June 18th promotional event, with smart TV shipments in the Chinese market increasing by 14.0% year-on-year and 43.1% quarter-on-quarter in Q2 2023.
Significant Growth in Large Screen TVs
Increase in 65-inch Smart TV Segment
TCL’s 65-inch smart TV segment saw significant growth. The company noted a trend in the television industry towards larger screens and higher-end models. Under its dual-brand strategy of “mid-to-high-end + large screen” with “TCL + Thunderbird,” the company reported a 67.8% year-on-year increase in shipments of TCL smart TVs 65 inches or larger, raising its market share by 7.4 percentage points to 22.5%.
Expansion in Mini LED TV Shipments
Shipments of Mini LED smart TVs continued to grow, fueled by active promotion from manufacturers and TCL’s strategic focus on mid-to-high-end products. In 2022, TCL’s shipments of Mini LED TVs increased by 26.8%. The growth continued in the first half of 2023, with global shipments of Mini LED TVs rising by 114.5% year-on-year, and shipments of quantum dot smart TVs increasing by 69.9% year-on-year.
Launch of New Mini LED TV Models
With the ongoing increase in Mini LED TV shipments, TCL launched several new models in the first half of the year. In March, the company introduced its 2023 flagship QD-Mini LED TVs, the X11G and Q10G Pro. The X11G is the world’s first TV with 5,184 backlight zones and XDR 5000nits brightness, known as the “Dual 5000.”
In May, TCL unveiled the TCL Q10H flagship Mini LED TV, tailored for audio-visual enthusiasts. This model features micron-level Mini LED beads, a peak XDR brightness of 3000nits, an ultra-high dynamic contrast ratio of 30 million to 1, and significant improvements in brightness, contrast, and dynamic range.
Domestic and International Market Growth
Driven by rising overseas demand and a recovering domestic market, TCL’s smart TV products saw growth in both domestic and international markets in the first half of 2023, with shipments increasing by 12.9% and 12.8%, respectively.
Growth in International Markets
TCL Electronics reported significant growth in shipments to emerging markets, including the Asia Pacific, Latin America, and the Middle East, with a 17.6% increase. The North American market also showed notable gains, with a year-on-year increase of 18.6%, including a 25.6% rise in the U.S. market. Despite economic challenges in Europe, TCL smart TVs continued to lead in shipments in certain countries.
Strong Performance in the Domestic Market
In China, TCL Electronics attributed its 14.0% year-on-year growth in Q2 and 43.1% quarter-on-quarter increase to a recovering consumer market and the impact of the June 18th promotional event. The share of large-screen smart TV shipments continued to grow, with shipments of TCL smart TVs 65 inches or larger up by 45.6% year-on-year, increasing its market share by 11.5 percentage points to 50.9%. Meanwhile, the share of TCL smart TV shipments 75 inches or larger rose by 12.4 percentage points to 29.7% year-on-year.
Future Outlook
Looking ahead, TCL Electronics plans to continue advancing its “globalization” and “technological” development strategies. The company aims to provide consumers with a more comfortable living experience by actively implementing a “smart IoT ecosystem” across all its products.
Source: Announcement
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