TV Sales Volume of TCL Electronics Remains No.2 in US Market
SHENZHEN, CHINA - EQS Newswire - 14 November 2019 - As a global leading manufacturer of Smart TV brand, TCL Electronics (the Company, 1070.HK) currently has obvious competitive advantage on businesses such as Smart TV, Internet services, Smart home and commercial display, among which TV business is the most prominent. In the first half of 2019, TCL Electronics ranked No.2 in the global market share, only after Samsung in terms of global TV shipments.
More importantly, in recent years, the continuous breakthroughs in overseas markets have become an important stimulus for the development of the Company's TV business. Among them, North America, as one of the most important markets for the Company's overseas development, its TV sales volume has increased remarkably by 75% year-on-year in the first half of 2019. Moreover, NPD, an authoritative consultancy focusing on consumer shopping trends research, pointed out that market share in terms of TCL brand TV sales volume remained No.2 in the US market, only after Samsung and the gap is significantly getting close.
According to the latest NPD data, in the first three quarters of 2019, TCL brand TV sales volume ranked the 2nd with a 16.5% market share in the US market, up by 3.3 percentage points year-on-year, while the market share of Samsung which ranking No.1 decreased by 2.8 percentage points from 22.3% last year to 19.5%. Therefore, the gap of the market shares between TCL brand TV sales volume and Samsung's was significantly reduced to 3 percentage points comparing with 9.1 percentage points in the same period last year. Moreover, TCL brand TV sales volume exceeded Samsung, ranking No.1 in the US market in March and July.
In addition, the latest data from NPD also shows that the Company has started its business in Canada since November 2018, and its sales volume ranking in Canada has rapidly climbed to top 5 within a year, with a market share of 7.5% in the first three quarters of 2019.
According to the announcement of the Company, in the first half of 2019, sales volume of TCL brand TVs in overseas markets has significantly increased by 49.8% year-on-year to 7.07 million sets, and the turnover reached HK$10.77 billion, up by 32.5% year-on-year. Moreover, since the release of its 2019 interim results, TCL Electronics has received positive recognitions from securities firms including Oriental Patron, CICC, Credit Suisse, Guo Yuan Securities, Industrial Securities and First Shanghai. They highly affirmed the overall performance of the Company, especially the performance of its overseas business.
Previously, many investors were still uncertain about TCL Electronics' increasing overseas business, mainly because of the China-US trade dispute which would affect or weaken the Company's development momentum in the North American markets. However, according to its interim results and the latest survey data from authoritative consulting institutions, the Company's performance has once again exceeded the overall expectations.
Undoubtedly, TCL Electronics has plenty of momentum in overseas markets development, further showing its potential of replacing Samsung's 1st place in the US market. In addition to precision marketing, TCL Electronics' TV products' qualities, superiorities of Internet services, excellent user experiences and brand reputation, which are widely recognized by consumers, are considered as important factors that attributed to the fast development in the North American markets. Therefore, it's believed that the Company's development trend in overseas markets will be continuously strengthened in the near future.