TCL位于越南南部平阳省的制造基地，主要生产TCL品牌的电视。该基地负责人——TCL实业泛智屏BU制造中心越南基地总经理徐林军向记者透露，基地今年的实际产出将超过600万台，明年将超过700万台，而前年、去年分别仅为379万台、527万台。据悉，该基地生产的电视除一小部分供应越南市场外，主要是销往美国市场。TCL's base in Binh Duong, Vietnam is expected to produce more than 6 million televisions this year, a significant increase from previous years. This plan reflects the company's optimistic outlook for the television market this year. With a dense calendar of sporting events, TV sales are often boosted. The growth in the European and American markets is expected to bring structural opportunities to relevant manufacturers, and upstream companies in the industry chain, represented by TV panels, are also expected to benefit.
During the recent "TCL Globalization 25th Anniversary and Vietnam Ecological Partnership Conference," TCL revealed that its production base in Binh Duong Province, Vietnam is expected to produce more than 6 million televisions this year, a significant increase from previous years. This plan reflects TCL's optimistic outlook for the television market this year. TCL's founder and chairman Li Dongsheng revealed that the concentrated hosting of the European Cup and the Olympics stimulated market demand, resulting in a significant increase in TCL TV sales in the European market this year.
In years of intense sporting events, sales of black electricity, mostly used for audio-visual entertainment, are often boosted. Market research institutions believe that although the overall situation of the TV market in 2024 is still not optimistic, the growth in the European and American markets is expected to bring structural opportunities to relevant manufacturers, and upstream companies in the industry chain, represented by TV panels, are also expected to benefit.
TCL's manufacturing base in Binh Duong Province in southern Vietnam is mainly responsible for producing TCL branded televisions. Xu Linjun, the head of the base, who is also the General Manager of TCL Industry PAN Intelligent Display BU Manufacturing Center Vietnam base, revealed to reporters that the actual output of the base this year will exceed 6 million units and will exceed 7 million units next year. In contrast, the respective outputs for the previous two years were only 3.79 million and 5.27 million. It is reported that the televisions produced by the base are mainly sold to the United States market, except for a small proportion supplied to the Vietnamese market.
Recently disclosed shipment data of TCL Electronics (1070.HK) shows that in the first half of this year, TCL's international TV shipments increased by 10.4% year-on-year. Among them, the shipment of TCL-branded televisions in the European market increased by 40.1% year-on-year, with shipments to Latin America and the Middle East and Africa markets rising by 11.6% and 25.4%, respectively. The overall performance of TCL TVs in the US market was stable, but the shipment of 75-inch and above models increased by 46.9% year-on-year.
TCL believes that teaming up with precise marketing around sporting events like the Copa America is key to boosting shipment volume.
Ovviare recently released its "Global TV Brand Shipment Monthly Data Report," which shows that global TV shipments in the first half of this year reached 90.2 million units, a year-on-year increase of 1.1%. Among them, TV shipments in Europe grew by 9.2% due to demand driven by watching the European Cup in Germany and the Paris Olympics. The organization predicts that in the short term, as the third quarter enters the peak season for stocking up, the shipment volume of top TV brands is likely to continue a slight upward trend, and is expected to maintain a small increase for the whole year.
The growth of high-end products with larger size and better experience, such as high refresh rate and OLED televisions, is particularly noteworthy. Data disclosed by TCL Electronics shows that in the first half of this year, TCL TV shipments of 65 inches and above globally increased by 14.5% year-on-year, and the proportion of shipments increased to 23.6%. The shipment volume of TCL's 75-inch and above TVs increased by 34.5% year-on-year, and the proportion of shipments increased to 11.8%. The global shipment volume of TCL's middle and high-end products, quantum-dot TVs and MiniLED TVs, respectively increased by 64.4% and 122.4% year-on-year.
According to statistics from Lotte Technology, in the first half of the year, the retail share of 75-inch and above size segment in the Chinese market increased by 7.7 and 9.1 percentage points year-on-year in online and offline markets, respectively. The sales proportion of MiniLED TVs in both online and offline markets increased by 5.2 and 3.7 percentage points respectively.
Group Intel, for example, predicts that in 2024, global shipments of 75-inch and above televisions (excluding 75-inch models) will reach 7.2 million units, a year-on-year increase of 32.9%, and high-refresh-rate TVs will reach 28.8 million units, with a penetration rate increasing to 13.4%. OLED televisions will grow from a base of 5.3 million units in 2023 to 6.3 million units. The increase in the proportion of high-end products will significantly improve the profit levels of TV brand manufacturers.
Upstream TV panel manufacturers in the industry chain will also benefit. Omdia previously predicted that with the hosting of large-scale sporting events such as the European Cup, Copa America, and Paris Olympics, the demand for TV panels will grow starting in the second quarter of this year. At the same time, panel manufacturers are expected to ship 7.8 million panels measuring 80 inches and above, an increase of 35% from last year. With regard to prices, based on data from Intel, by late July, the prices of 55-inch, 65-inch, and 75-inch TV panels had increased by 5% to 7% from last December.
