On April 11th, pulsestacks reported that Skyworth Group recently held its "Skyworth Group 2024 Full-Category Customer Conference" in Boao, Hainan, with a scale exceeding 1,500 people, proposing the grand slogan "Next Stop, 100 Billion".
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This year marks the 36th anniversary of Skyworth Group's founding. Last year, Skyworth Group achieved a revenue of 69.03 billion CNY, with a net profit attributable to shareholders reaching 1.069 billion CNY. According to a report by National Business Daily, Huang Hongsheng, the founder of Skyworth Group, expressed his expectation during a media interview on April 8th: he hopes to achieve a revenue target of one trillion CNY by 2025.
Looking back on history, in 1988, Huang Hongsheng embarked on his entrepreneurial journey on Huaqiang North Road in Shenzhen, establishing the Skyworth brand. With the success in the color TV industry, he was also hailed as the "Color TV King." Today, at the age of 68, he has devoted most of his energy to the field of new energy vehicles, but still allocates a small portion of his energy to the home appliance business.
Addressing the issue of low TV power-on rates, Huang Hongsheng pointed out during the interview that despite the trend of using smartphones and iPads, the development of AI technology will make television once again an indispensable part of family happiness. He said, "This wave of technology will bring family members back to the TV."
Pulsestacks noted that according to a report released by Forward Industry Research Institute, since 2016, the TV power-on rate in China has plummeted from 70% to less than 30% in 2022. The global TV market brand shipments also hit a new low in nearly a decade in 2023. According to Omdia data, in 2023, the shipment scale of China's TV industry was 37.6 million units, a year-on-year decrease of 12.4%.
For Skyworth Group, the smart home appliance business remains its largest source of revenue, with color TVs as its "staple." Huang Hongsheng stated that the emergence of AI technology is expected to change the current situation of people watching less TV. He said, "Everything from eating, playing, exercising, to drama, all can be done through AI. The screen of a mobile phone is too small, and it can't compete with AI on TVs. So, this wave of (AI) technology will bring family members back to the TV. Of course, this is a process, not something that can be achieved overnight."
It is reported that the revenue of Skyworth Group's smart TV system products in the mainland Chinese market increased by 11.4% year-on-year in 2023, while overseas market revenue decreased by 2.5% year-on-year. The overall revenue of smart TV system products increased from 180.77 billion CNY in 2022 to 190.08 billion CNY in 2023.
