For two consecutive years, Hisense TVs have consistently outperformed TCL TVs, establishing itself as the leader in China's color TV industry and the top player for Chinese companies in the global color TV market. However, within the home appliance industry, achieving second place globally is now a thing of the past. Currently, the sole objective for Hisense TVs is to surpass and outshine Samsung TVs, aiming to become the world's number one in color TV.
By Sun Li
As we enter 2024, despite the prevailing pessimism in the global color TV market with declining sales and subdued demand, Chinese enterprises continue to make strides forward, actively expanding and seizing opportunities.
The latest "Global TV Brand Shipment Monthly Data Report" by Ovvi Ruiwo reveals that in the first quarter of 2024, the overall global color TV market saw a 0.8% decrease in shipments. However, key overseas markets such as Europe continued to experience growth. Samsung, Hisense, TCL, LG, and Xiaomi secured positions in the top five global brands. Among them, Chinese companies held three spots in the top five, with Hisense TVs maintaining their lead over TCL TVs, ultimately securing the global second position with a shipment of 6.2 million units, making them the top in China.
Specifically: Samsung TV's global shipments reached 8.4 million units, a year-on-year decrease of 9.5%; Hisense TV's global shipments reached 6.2 million units, with a 4.2% growth in overseas shipments, focusing on overseas markets with its own brand, high-end products, and sports marketing strategies to accelerate market expansion, emphasizing mid-to-high-end and large-screen products; TCL TV's global shipments reached 5.8 million units, a year-on-year growth of 3.7%, benefiting from a 13.7% increase in shipments in the Chinese market and a 0.6% increase in overseas shipments; LG TV's global shipments reached 5 million units, a year-on-year decrease of 4.4%; Xiaomi TV's global shipments reached 2.5 million units, mainly driven by growth in the Asia-Pacific and Eastern European markets.
It can be seen that, although Samsung and LG, two South Korean companies, respectively hold the first and fourth positions in the global TV market, the market shipment volume continued to decline in the first quarter of this year. Meanwhile, the Chinese companies Hisense, TCL, and Xiaomi have taken the top three spots, with market shipment volumes all showing an upward trend. The new question arises: when will Chinese companies led by Hisense become the leaders in the global market? In particular, when can Hisense replace Samsung as the leader in the global market?
In 2022, the global TV market data released by the market research firm Omdia showed that in the second quarter of that year, Hisense TVs accounted for 12.1% of the total global shipment share, second only to Samsung. This is the first time in history that Hisense TVs have entered the top two in the global color TV market. In 2022, 2023, and the first quarter of 2024, Hisense continued to hold the second position globally and the first position in China.
It has been 2 years since Hisense entered the global color TV market's second position. For Hisense TVs, it is not enough to just lead TCL TVs with a large market share advantage; they must continue to surpass Samsung TVs in the process of catching up, becoming the global leader and ushering in a new era for Chinese color TVs. It is worth noting that in the Chinese home appliance market, apart from color TVs, Chinese companies such as Haier, Midea, and Gree have already held the top position globally in categories such as air conditioners, refrigerators, washing machines, and kitchen appliances more than 10 years ago.
In the process of surpassing Samsung to become the global leader in color TVs, the home appliance industry believes that Hisense TVs can no longer hesitate or hesitate. The market is always about moving forward; standing still means falling behind, and slow progress is also a form of regression. The management team must not only play to their strengths and avoid weaknesses but also make decisive decisions and be driven by efficiency. Firstly, they need to accelerate the proactive market offensive and set a new rhythm; secondly, they must dare to expand and invest against the trend, increase market investment to attract users and leverage the advantage of "big fish eating small fish"; thirdly, they need to abandon the so-called past successful experiences and models and create a brand-new Hisense TV through overseas markets.
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Disclaimer: Personal original work, for reference only.
