During the Double 11 shopping festival, sales of screenless TVs surpassed 200 million yuan, with Hisense TV reaching 1.5 billion yuan in sales and Sharp TV exceeding 2.5 billion yuan. Despite a weak third quarter, the color TV industry is hoping that strong performance during the Double 11 period will help boost fourth-quarter sales. However, home appliance industry analyst Liu Buchen points out that while events like "Double 12" and New Year's Day promotions will provide short-term market stimulation, they are unlikely to fundamentally change the industry’s overall challenges.
If the home appliance sector as a whole is struggling, the color TV industry is certainly among the worst hit. For example, Skyworth reported a 6.5% decline in color TV revenue during the mid-year period, amounting to 8.764 billion Hong Kong dollars. According to Ovid data, the third-quarter retail volume of color TVs dropped by 12.9% year-on-year to 10.41 million units. This trend reflects a harsh winter for domestic color TV manufacturers.
The television industry is undergoing significant changes, with some players facing difficulties. For instance, LeTV struggled financially, and internet TV platforms lost momentum. Meanwhile, panel prices started to stabilize in the second half of the year, and competition between quantum dot (QLED) and OLED technologies became more intense. These developments indicate that the TV industry is entering a new phase, with more innovation expected in the coming years.
TV technology is evolving rapidly, with OLED and QLED leading the way. Companies like LG and Skyworth are pushing OLED, while Samsung, TCL, and Hisense are focusing on QLED and laser TVs. Despite this, QD TVs have significantly outperformed OLED models in terms of sales. According to China Yikang monitoring data, QD TVs accounted for 4.77% of color TV retail sales in the first week of 2017, compared to just 1.22% for OLED TVs. This shows that QLEDs currently hold an advantage.
The competitive environment in the color TV industry has become more dynamic, breaking away from the "homogeneous competition" seen in earlier eras. Marketing strategies now emphasize technical innovation to attract consumers, especially during periods of sluggish sales. Brands that highlight their technological expertise can offer more choices and experiences, which may help revive the market. However, despite the growth in display technologies, there has been no major breakthrough in the field.
According to Fan Zhijun, general manager of Shanghai Suning, the history of the color TV industry has always involved technological debates. At each stage of development, different technologies have sparked discussions. For example, in the early days, there was a debate between rear projection and large-screen technology, eventually leading to the decline of rear projection. Later, LCD TVs gradually replaced plasma TVs due to better yields. Today, in the post-LCD era, the industry is again facing a choice between OLED and QLED. Ultimately, the winner will be determined by consumer preferences.
While the broader TV market remains challenging, smart TVs are showing steady growth in terms of user retention, activation, and value creation. According to Dr. Li Kefeng, vice president of Jingdong Group, smart TVs accounted for over 87% of shipments in the first half of 2017, and by 2018, they were expected to make up 80% of total TV sales. In China, large-screen smart TVs have exceeded 56.3% usage rates.
Smart TVs are increasingly becoming the central hub for living room entertainment. With advanced audiovisual capabilities, they are expected to integrate more features such as gaming, shopping, karaoke, and even video calling through built-in cameras. As a result, smart TVs are not just devices but key components of the smart home ecosystem.
Lu Jian, executive vice president of Konka Group, emphasized that the entrance to the home is crucial for competition in the color TV market. “Konka aims to be the leading brand in smart homes, centered around the family and linking the home entrance with a large screen. Without occupying this entrance, there will be no future,†he said.
As the domestic market slows down, international expansion has become a critical source of profit for many companies. For example, TCL saw a 29.5% year-on-year increase in overseas TV sales in Q3 2017, with a staggering 97.4% rise in North America. Its market share in North America jumped from 10.4% in June to 16.3% in August, placing it third in the region.
Skyworth also experienced strong growth in international markets, with overseas color TV revenue rising 29% year-on-year to HK$5.82 billion. The company’s own brand, Skyworth, saw a 13.1% increase in overseas sales. Since acquiring Metz in 2015, Skyworth has implemented a dual-brand strategy in Europe, expanding into over ten countries.
Hisense’s acquisition of Toshiba is another step in its global strategy. Prior to that, it had a five-year brand license for Sharp in North America. With the expiration of that agreement approaching, the Toshiba brand serves as a timely replacement. According to IHS, Toshiba ranked third in Japan in 2016, and after combining brands, Hisense and Toshiba together achieved a market share of over 20%.
Soochow Securities Research noted that global TV sales exceed 200 million units annually, with the industry’s annual production value surpassing 400 billion yuan. Over the next five to ten years, the total output could reach one trillion yuan. Compared to the shrinking domestic market, foreign markets have become a high-profit area for home appliance companies.
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