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China's TV Market Hits 15-Year Low in 2024 Despite Major Sports Events
January 24th - According to the latest data from Runto Technology's "Monthly Tracking of China's TV Market Brand Shipments," China's TV market saw a total of 35.96 million units shipped in 2024, marking a 1.6% decline compared to 2023. Despite 2024 being a major year for sports with events like the European Championship, Copa America, and Olympics, the market hit a new low, dropping below 36 million units for the first time in at least 15 years since 2010. Shipments declined year-over-year for eight consecutive months from February to September.
Top Brands Dominate the Market
The top eight brands in China's TV market—Hisense, Xiaomi, TCL, Skyworth, Changhong, Konka, Haier, and Huawei (including their sub-brands)—collectively shipped approximately 34.12 million units, accounting for 94.9% of the total market share. This represents a 0.2 percentage point increase from 2023.
- Hisense maintained its top position with around 8 million units shipped, capturing a 22.5% market share. The brand performed exceptionally well in November and December, leveraging government subsidies to significantly boost annual performance.
- Xiaomi (including Redmi) ranked second with 7.1 million units shipped, holding a 19.9% market share.
- TCL (including sub-brands) secured third place with over 6.8 million units shipped.
Foreign Brands Struggle in China
Foreign brands like Sony, Samsung, Sharp, and Philips continued to face challenges in the Chinese market. Their combined shipments in 2024 totaled approximately 1 million units, accounting for less than 5.0% of the market. Runto Technology suggests these brands may be accelerating their exit from the market. However, both Samsung and Sony showed notable improvements in scale and product structure in the fourth quarter compared to earlier in the year.
January 24th - According to the latest data from Runto Technology's "Monthly Tracking of China's TV Market Brand Shipments," China's TV market saw a total of 35.96 million units shipped in 2024, marking a 1.6% decline compared to 2023. Despite 2024 being a major year for sports with events like the European Championship, Copa America, and Olympics, the market hit a new low, dropping below 36 million units for the first time in at least 15 years since 2010. Shipments declined year-over-year for eight consecutive months from February to September.
Top Brands Dominate the Market
The top eight brands in China's TV market—Hisense, Xiaomi, TCL, Skyworth, Changhong, Konka, Haier, and Huawei (including their sub-brands)—collectively shipped approximately 34.12 million units, accounting for 94.9% of the total market share. This represents a 0.2 percentage point increase from 2023.
- Hisense maintained its top position with around 8 million units shipped, capturing a 22.5% market share. The brand performed exceptionally well in November and December, leveraging government subsidies to significantly boost annual performance.
- Xiaomi (including Redmi) ranked second with 7.1 million units shipped, holding a 19.9% market share.
- TCL (including sub-brands) secured third place with over 6.8 million units shipped.
Foreign Brands Struggle in China
Foreign brands like Sony, Samsung, Sharp, and Philips continued to face challenges in the Chinese market. Their combined shipments in 2024 totaled approximately 1 million units, accounting for less than 5.0% of the market. Runto Technology suggests these brands may be accelerating their exit from the market. However, both Samsung and Sony showed notable improvements in scale and product structure in the fourth quarter compared to earlier in the year.
