SHENZHEN,
CHINA – EQS Newswire – 15 November 2019 – In the first half of
2019, TCL Electronics’ (01070.HK) market share of TV shipment reached 14.3%, up
by 2.5 percentage points year-on-year in the global TV market. The company
surpassed LG to become No. 2 from No.3 in terms of market share (Source: Sigmaintell).
TCL Electronics is the only Chinese brand and the only company that has
achieved an increase in market share of sales volume among the top three
companies.
The company has made such an achievement are mainly
due to, on
one hand, in the first half of the year, sales volume of TCL brand TVs in China
increased by 6.9%, despite the retail sales volume of the overall PRC TV market
fell by 4.3%. On the other hand, the company continued to penetrate the
overseas markets. During the period, sales volume
of TCL brand TVs in overseas markets significantly increased by 49.8%
year-on-year to 7.07 million sets. Moreover, the sales volume in various
overseas markets remained strong growth. Not only the sales volume in North
American markets jumped by 75% year-on-year in the first half of 2019, with its
market share in terms of TV sales volume ranked No.2 in the US market, but also
the sales volume growth reached 28.8% in emerging markets, which include South
America, Australia, India, and Southeast Asia, and etc.
In
fact, TCL Electronics has entered the Indian market for more than a decade. Although
it went through some ups and downs, TCL Electronics decided to “Go Global
Again” in 2015 and restarted its business in India next year.
Thanks
to the well-established branding and user bases for more than ten years, as
well as all-rounded sales and after-sales systems, TCL Electronics rapidly developed Indian market. As of March 2019, India
had a population of 1.34 billion, a second large population after China, and
its total GDP ranked No.7 in the world in 2018. According to GfK, the current Indian
TV market capacity is 12.5 million sets, which only accounts for a quarter of
China. It is a large market with great growth potential.
In
order to explore and to achieve full coverage from manufacturing to sales in the
Indian market, TCL Electronics and CSOT have built the
first module integrated intelligent industrial park in Andhra Pradesh, South
India, at the end of 2018. The industrial park will cover the production of
32-inch to 65-inch TVs with capacity of 6 million sets per year, which not only
meet the local needs of TCL brands, but also provide ODM services to other
brands.
The
huge investment brings fruitful business
performance. TCL TV sales volume surged by 258% and 216.8% year-on-year in 2018
and in the first half of 2019 respectively in Indian market. Moreover, in the
first three quarters of this year, its market share remained the top five in
Indian TV market (Source: GfK). At present, the company covers about 3,000
offline supermarkets and chain stores in the country, as well as it covers
several online channels, such as Amazon, Reliancedigital, Croma and etc. The
uptrend has aroused the attention of other TV manufacturers, such as Samsung
and LG.
Besides
India, Indonesia, the world’s largest island country, is also a promising market. As of March 2019, Indonesia has a population
of 268 million, accounting for nearly half of the population of Southeast Asia,
ranking No.4 in the world. The development potential of Indonesian market cannot
be underestimated due to its GDP exceeded US$1 trillion and ranked No.16 among
the world in 2018.
The
large amount of population has attracted consumer electronics enterprises,
including TCL Electronics, to invest in Indonesia. The company has been
actively prepared both online and offline sales channels
in the Indonesian market. At present, the company’s active online channels
mainly cover Lazada, JD. ID, Shopee, and etc., and the main offline channels are
Giant, Hypermart, etc. Therefore, the sales volume soared by 109.5% in
Indonesian market in the first half of 2019 year-on-year.
Population
is the biggest potential and advantage in both India and Indonesia. TCL
Electronics has absolute advantages on sales channels, capacity, all-rounded
sales and after-sales layout and global brand awareness. Therefore, it is
expected that TCL Electronics has a bright future on its growth of sales volume
and business performance in these countries.
