TCL Electronics recently issued its 2022 first half business update showing global smart TV unit shipments reached 10.15 million sets, spurred by an 8.9% Q2-2022 uptick over the first quarter of the year.
For perspective, in January the company reported sales of 23.58 million smart TV units globally for the full year of 2021, with the second half traditionally the strongest part of the year.
Over the first half of 2022, the company said it did especially well in its China market, despite the widely reported COVID-19 difficulties, but saw slight sales declines in the United States, parts of Europe and some other international regions due to weakened demand from the economy, complications with the international supply chain and the on-going threat of COVID-19.
The company said it held on to its third-ranked market share (by unit volume) for smart TV shipments in the United States for the period.
TCL Mini LED-based smart TVs (called smart screens by the company) led in both unit volume and sales revenue across all e-commerce channels, the company said.
The market share of TCL’s 98-inch giant smart TVs exceeded 50% of the size segment, which would be a small percentage of overall sales volume by units. TCL’s 75-inch and above smart screens were also top performers in both sales volume and sales revenue, showing “a five-fold increase” across e-commerce platforms year-on-year, the company reported.
Mid-to-high-end products have become especially popular with TCL’s domestic China customers, resulting from an emphasis on quality, especially at the higher end of the product mix, the company said.
TCL has been upgrading its product mix using a “Value Led by Brand” philosophy.
The company’s mix of large-sized smart TVs continued to grow over the first half of 2022, with sales volume of models 65- inches and above smart screens up 5.1 percentage points year-on-year to 15.1%, and 75 inches and above increasing by 3.2 percentage points year-on-year to 5.2%, the company reported.
In its domestic China market, sales of TCL smart TVs over China’s “618 Shopping Festival” were called “outstanding,” leading TCL to become the country’s “top performer in terms of sales revenue across all channels of e-commerce” during the locally important sales period.
TCL said it has continued to grow sales of models based on its Mini LED technology with first-half unit sales volume up 7.8% year-on-year.
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In May, TCL launched its Q10G Mini LED smart TV equipped with “micron-level dot matrix light control technology”. The new smart screen integrates maximum 448-part micron-level dot-matrix light control, 1000 nits ultra-high peak brightness, 98% DCI-P3 cinema-grade primary color gamut coverage, and all-channel 4K 120Hz high refresh rate.
The company has scheduled a global press conference to introduce new model lines for 2022/2023 on Sept. 1.
In the company’s domestic China market, sales volume of TCL smart screens rose by 1.1% year-on-year, helped by a growing consumer focus on large-sized products. In the first half of 2022, TCL’s 65-inch and above smart TVs increased 14.3 percentage points to 39.4%, while 75-inch and above models increased by 12.0% percentage points to 17.3%.
The average size of TCL smart screens sold in the China rose from 52.5 inches to 55.7 inches in the period, the company said.
In international markets, political and economic volatility has hampered end-user demand in most markets, resulting in TCL’s global smart TV sales volume seeing a slight decline from the first half of 2021, with some regional market growth observed, the company said.
TV sales volume in general for Europe and North America declined slightly,
but sales volume in Poland and the United Kingdom maintained strong growth of 24.8% and 118.3% year-on-year respectively, TCL’s financials reported.
In emerging markets, the sales volume of TCL smart TV increased 7.6% year-on-year,
with sales in Pakistan, Australia, Vietnam and Indonesia increasing by 41.2%, 44.9%, 51.8% and 66.0% year-on-year respectively. Pakistan, Australia and Myanmar ranked first in terms of market share by sales volume.
In other product categories, TCL said its sold 10.22 million units of small and medium-sized display-based products in the first half of 2022. Among these were, TCL 5G smartphone sales for which the market trend increased by more than 200% year-on-year. The company said it also released new small and medium-sized smart display products such as TCL Stylus 5G smartphone and TCL TAB Disney Edition tablet, in the period.
Sales of TCL smart-home categories went up steadily, the company said. TCL large-screen smart locks were the top performer in both sales volume and sales revenue across all channels of e-commerce during China’s “618” Shopping Festival.
At the same time, the company’s all-category marketing strategy continued to gain
momentum in the global market, with sales volume of air conditioners, refrigerators and washing machines increasing by 9.1%, 14.0% and 13.2% year-on-year respectively in the first half of 2022.
Looking forward, TCL said it continues to pursue the mantra of “Value Led by Brand with Relative Cost Advantage” while continuing to promote its all-category development strategy for an “intelligent IoT ecosystem,” where the company hopes to become a global leader.
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By Greg Tarr
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