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Domestic color TV market early winter sales fell by 12.9% year-on-year in the third quarter
In the first three quarters of 2017, the Chinese TV market faced significant challenges due to rising panel prices and declining consumer demand. According to the "2017 China TV Market Summary Report for the Third Quarter," the color TV market experienced its worst quarter in history. Retail sales volume dropped by 12.9% year-on-year to 10.41 million units, while sales area fell by 7.3% to 6.89 million square meters. Despite this decline, the industry continued to focus on product upgrades, with large-screen TVs (55 inches and above) and 4K ultra-high-definition models becoming increasingly popular among consumers.
The overall decline in shipments was attributed to higher panel costs and the fading benefits of internet-based business models. Companies like Xiaomi, Philips, and Sharp responded by planning aggressive promotions during key sales periods such as "Double 12" and the holiday season. They also aimed to expand their high-end, smart TV offerings to meet evolving consumer preferences.
Domestic brands saw a shrinking market share, with some struggling to maintain profitability. LeTV and Storm TV, for example, reported significant declines in revenue and unit shipments. Meanwhile, foreign brands like Sharp and Sony managed to gain ground, with Sharp experiencing a notable recovery after being acquired by Foxconn. Sony also showed strong performance, driven by high-end products and global market expansion.
Despite the challenging environment, the market showed signs of growth in premium segments. Large-screen and high-end TVs, particularly those priced over 10,000 RMB, saw increased sales. Industry experts believe that the shift toward high-end and large-screen TVs could be the key to future growth.
Looking ahead, many in the industry remain cautiously optimistic. With panel prices beginning to stabilize and major sales events approaching, companies are preparing for a potential rebound in the fourth quarter. Xiaomi, for instance, announced a price drop on its 32-inch smart TV, signaling a new era of affordable smart TVs. The "Double 11" shopping festival also proved successful, with TV sales reaching 2.057 million units and generating 6.35 billion yuan in revenue.
While promotional events can provide short-term boosts, long-term success will depend on innovation, product quality, and strategic positioning in an evolving market. As the industry adapts to changing consumer demands, the focus on high-end, smart, and large-screen TVs is likely to continue shaping the future of the Chinese TV market.