Luotu Technology has released the “Monthly Tracking of Brand Shipments in the Chinese TV Market” report for Q3 2023. According to the data, the shipments of branded complete sets in the Chinese TV market reached 8.69 million units in the third quarter of 2023, marking a 12.9% decrease compared to the same duration in 2022.
Chinese TV Market in Q3 Report
In Q3 2023, China’s TV market saw its top seven traditional brands, like Hisense, TCL, Skyworth, Changhong, Konka, and sub-brands, ship 8.09 million units. This marked a 10.6% YoY decrease, but they still held a 93.1% market share, up 2.4 percentage points from Q3 2022.
In Q3, Xiaomi (including Redmi) shipped around 1.9 million units, a 6% drop from the prior year. This represented 21.6% of the total market, a 1.6 percentage point rise from the previous year.
Hisense (including the sub-brand Vidda) also shipped nearly 1.9 million units in the third quarter, tying for first place in the Chinese market.
TCL (including sub-brands Thunderbird and Lehua) shipped around 1.65 million units in Q3. While there had been an increase every year in monthly shipments in the first mid-year, there was a slight decline in the third quarter, accompanied by noticeable fluctuations.
Skyworth (including its sub-brand Cookaa) shipped nearly 1.6 million units in Q3, marking a 4.7% year-on-year increase and a 12.1% month-on-month increase. Their market share increased by 3 percentage points compared to the same time the previous year.
However, the gap between Changhong, Konka, and Haier, three major brands, and the top-performing brands has increased. In the third quarter, their total shipments were 1.115 million units, dropping by almost 500,000 units from the previous year, causing a year-on-year decrease of approximately 30%. Their collective market share also declined by 3.2 percentage points, reaching 12.8%.
Chinese TV brands are thriving, while global brands are facing reduced demand. The Q3 shipments of Samsung and Sharp totaled about 300,000 units, reflecting a year-on-year decrease of more than 20%. Their combined market share remains at the lower end of the market, standing at less than 5%.
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