Hong Kong, April 26, 2024. TCL Electronics Holdings Limited (“TCL Electronics” or the “Company”, 01070.HK) today released global shipment data for the first quarter of 2024. The company actively implemented the “high-end and large screen” strategy, continuously invested in mini LED, quantum dot, AI and other technology research and development, and further optimized the product structure. Shipments of TCL 65-inch TVs and above increased 23.1% year on year, driving global shipments of TCL TVs up 5.3% year on year to 5.84 million units in the first quarter of 2024. Among them, shipments in the Chinese market increased 24.0% year on year, and the scale of shipments maintained strong growth.
The share of large TV shipments continues to expand, leading the Mini LED TV sales industry
Against the backdrop of the global color TV market continuing to show a trend of high-end and large screens, TCL Electronics is seizing the opportunity to launch high-quality products that meet consumer expectations through the “TCL+ Thunderbird” dual-brand strategy. The TCL brand has achieved continuous steady growth in large size, medium and high-end TV shipments. Global shipments of 65-inch TCL TVs and above increased 23.1% year on year in the first quarter of 2024, accounting for 3.4 percentage points to 23.2% year on year, and the average size increased 2.3 inches to 51.3 inches from 49.0 inches year on year. Meanwhile, in the first quarter of 2024, global shipments of TCL Mini LED TVs increased 82.3% year on year, and global shipments of quantum dot TVs also increased by 58.8% year on year.
In addition to being favored by consumers, TCL TV is also highly recognized by the industry. At the 2024 China Home Appliance and Consumer Electronics Fair (AWE 2024), the new TCL TV product won another award. With excellent picture quality performance and many technological innovations that have broken through industry limits, the new TCL X11H Lingyao QD-mini LED TV won the Eppland Gold Award. Among the 100-inch mass-produced televisions, this product is the only QD-mini LED TV with 10,000 zones in the world. It has 14,112 backlight zones and 6,500 nits peak brightness. It is also equipped with TCL global halo control technology and TSR independent image quality chip. The picture is delicate and natural, and it can be called a “2024 quality ceiling”. At the same time, the Thunderbird brand launched products such as the first 1000-zonal mini LED flagship TV product “Crane 724” and the Thunderbird New Geek Mini LED display, which are very popular among young consumers.
Sales in the Chinese market have increased rapidly, the product structure in the international market has improved, and sales volume remains leading
Benefiting from the remarkable results of the “TCL+ Thunderbird” dual brand strategy, TCL TV shipments in the Chinese market increased 24.0% year on year in the first quarter of 2024. Among them, TCL brand and Thunderbird brand shipments increased 7.7% and 125.5%, respectively. At the same time, the company further promoted high-end strategies to drive continuous improvement in the product structure. Shipments of 65-inch TCL TVs and above in the Chinese market increased by 44.6% year on year, accounting for 7.3 percentage points to 51.2% year on year, 74.9% year on year, 74.9% year on year, and the proportion of the company's shipments in the Chinese market also increased 9.3 percentage points to 31.9% year on year. The high-end TCL Mini LED TV is still far ahead in retail sales in China. According to Zhongyikang data, TCL Mini LED TV retail sales in the first quarter of 2024 won the championship.
In the international market, TCL Electronics continues to steadily advance its global strategy, shipments are steadily increasing, and the product structure continues to move in the direction of large sizes. International market shipments of 55-inch TCL TVs and above increased 21.2% year on year in the first quarter of 2024, and the share also increased 6.8 percentage points year over year to 40.1%. In the European market, the company further expanded its local channel layout, driving TCL brand TV shipments to increase 29.8% year-on-year, and ranked in the top two retail market share rankings in France, Sweden and Poland[1]. In emerging markets, the company continued to deepen its channel layout, driving TCL TV shipments in Latin America and the Middle East and Africa to increase by 4.4% and 44.1% year-on-year. The retail market share ranked first in Pakistan, second in Saudi Arabia, and third in Brazil and Argentina. In the North American market, TCL TV's market share performance is still leading, and retail sales remain second in the US market[2]Moreover, the market share continues to rise.
In the future, TCL Electronics will continue to adhere to the “technological” and “global” layout, continue to invest in high-end display technology research and development to better meet the needs of global consumers for intelligent products and services, and strive to become a leading smart terminal enterprise operating globally.
