TCL Electronics, which manufactures the most TVs in the world, including models for Samsung, LG and Sony, reported a 19.7% year-on-year increase in TV shipments during the third quarter of 2024.
It shipped a total of 20.01 million units in the first nine months of the year, marking a 12.9% year-on-year rise.
TCL’s international shipments rose by 15.2% in the first three quarters of 2024. The company claimed that its TVs ranked first in terms of retail sales volume in Australia, as well as in countries such as the Philippines, and Myanmar.
TCL is carving market share away from the likes of LG and Sony is in direct competition with Chinese archrival Hisense, with research revealing that both TCL and Hisense are growing share in Australia and globally.
The company’s strategy capitalises on a growing consumer preference for larger screens. TCL, which is being closely watched by its competitors, took the Mini LED backlight technology to the next level with QD-Mini LED, now seen as a key premium TV technology. In Australia, the company already sells its 115-inch X955 QD-Mini LED TV for A$29,999.
Its QLED and MiniLED TV shipments grew by 61.1% and 162.8% year-on-year respectively in the first nine months of the year.
Apart from having large-screen 115-inch TVs, TCL also has been innovating with its ultra-thin “All-In-One” NXTFRAME TVs. In the third quarter of this year, it launched the third-generation Art TV – the TCL A300 Series NXTFRAME TV. The 85-inch model of that TV is priced at A$3,999.
TCL also recently cut a deal with Danish audio company Bang & Olufsen to deliver superior premium sound to select TVs. Described as a “long-term” commitment, the relationship will see retailers offered a range of premium TV and B&O soundbars and subwoofers co-engineered by Bang & Olufsen and TCL’s acoustic design teams.
In a boost to TCL’s production capabilities, LG Display recently agreed to sell its majority stake in its Guangzhou, China LCD plant to TCL’s CSOT unit 10.8 billion Chinese Yuan (around A$2.28 billion). The deal includes LG Display’s 80% stake in the LCD panel facility and full ownership of the LCD module assembly plant.
