Since 2019, the external environment has become more volatile and complex, the internal economic growth rate has slowed down, and the purchasing power of consumers has declined, which has a great impact on China's consumer electronics market. China's color TV market has entered a long period of weak consumer demand, affected by the "6.18" promotion not as expected, channels and within-brand inventory continued to rise at the beginning of the third quarter.
In order to relieve inventory pressure and reduce operational risk, major TV brands actively control the number of domestic shipments in the third quarter. Although the bid for 32 "televisions purchased by the government in the third quarter had a certain degree of pulling effect, it is still difficult to hide the downward trend of the Chinese color TV market. In the first three quarters, 34.6 million color TV sets were shipped in China's domestic market, down 2.8 percent from a year earlier, with 12.2 million units shipped in the third quarter, down 7.4 percent from a year earlier, down 7.4 percent from a year earlier, according to research data from Qunzhi Consulting (Sigmaintell).
It is worth noting that although the number of domestic color TV sales market in China has shrunk, the competition between brands has become more intense, on the one hand, brand concentration has increased, on the other hand, more and more mobile phone brands have joined the television camp. At the same time, the size structure continues to upgrade, 65 "and other large size demand growth is obvious. Therefore, brand aggregation, size structure upgrading is still the mainstream trend of China's television market.
China's brand concentration has increased, with the top five brands accounting for more than 70 per cent of Xiaomi's domestic shipments in the first three quarters, up 59.1 per cent from a year earlier, ranking first. Xiaomi continued to export domestic market this year, and shipments grew rapidly for three consecutive quarters. After "6.18", inventory problems highlighted, reducing the delivery of channels in the third quarter, but driven by "11.11" and "Yuanchun" positive promotions, it is expected that shipments in the fourth quarter will increase significantly compared with the same period last year and month-on-month, while Xiaomi TV's total shipment in the Chinese market is expected to exceed 10 million units this year, breaking the all-time high. In the first three quarters, domestic shipments were 5.8 million units, up 7.8 percent from a year earlier, ranking second. Chuangwei domestic market performance is stable, since the beginning of this year to continue to increase the domestic market, the use of new product iteration, store upgrading and other ways to continuously enhance the brand image, so in this year's weak overall domestic demand environment, its shipments can still maintain the trend of quarterly growth.