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Xiaomi’s Lower Priced OLED TVs Have Minimum Impact in China
July 26, 2020
Xiaomi launched its first OLED TV under its Master series with the set featuring a 65-inch 4K panel and priced at CNY12,999 (US$1,868). The release of the OLED set entry into the high-end TV market for the Chinese brand. Since the entry-level segment is gradually becoming saturated and seeing keener competition, Xiaomi is experiencing slimming profits from the business.
Xiaomi had tried to tap the high-end TV sector with a QLED TV series, but received weaker-than-expected results. Xiaomi's 65-inch OLED TV features a price far below those of competitions such as Sony's A9G TV, which is priced above CNY29,999 and Huawei's X65 priced CNY$24,999. Some market observers believe the Xiaomi OLED TV's competitive pricing will help gain market share from competitors. Skyworth is the largest OLED TV brand in China, having sold 11,181 units in June 2020 for a 68.92% share in China's OLED TV market in the 26th week of 2020, according to All View Cloud (AVC). In the first five months of 2020, China's OLED TV sales were only reached CNY701 million, down 32.4% Y/Y and sales volumes were 47,000 units, down 29.5% Y/Y. Comparing to overall TV sales of CNY39.3 billion and volume of 15.99 million units, OLED TVs only accounted for a tiny share of the total. The number of OLED TV brands also increased from one (LG Electronics) in 2013 to six in 2016, 13 in 2017 and 15 in 2019. With US-based Vizio, Japan-based Sharp, China-based Huawei and Xiaomi entering the segment, the number has reached 19 at the moment. In China, TV prices are slipping faster than overall TV prices in the first five months of 2020 had a Y/Y drop of 27.9%, compared to an overall volume decline of 14.8%, AVC's number indicated.
July 26, 2020
Xiaomi launched its first OLED TV under its Master series with the set featuring a 65-inch 4K panel and priced at CNY12,999 (US$1,868). The release of the OLED set entry into the high-end TV market for the Chinese brand. Since the entry-level segment is gradually becoming saturated and seeing keener competition, Xiaomi is experiencing slimming profits from the business.
Xiaomi had tried to tap the high-end TV sector with a QLED TV series, but received weaker-than-expected results. Xiaomi's 65-inch OLED TV features a price far below those of competitions such as Sony's A9G TV, which is priced above CNY29,999 and Huawei's X65 priced CNY$24,999. Some market observers believe the Xiaomi OLED TV's competitive pricing will help gain market share from competitors. Skyworth is the largest OLED TV brand in China, having sold 11,181 units in June 2020 for a 68.92% share in China's OLED TV market in the 26th week of 2020, according to All View Cloud (AVC). In the first five months of 2020, China's OLED TV sales were only reached CNY701 million, down 32.4% Y/Y and sales volumes were 47,000 units, down 29.5% Y/Y. Comparing to overall TV sales of CNY39.3 billion and volume of 15.99 million units, OLED TVs only accounted for a tiny share of the total. The number of OLED TV brands also increased from one (LG Electronics) in 2013 to six in 2016, 13 in 2017 and 15 in 2019. With US-based Vizio, Japan-based Sharp, China-based Huawei and Xiaomi entering the segment, the number has reached 19 at the moment. In China, TV prices are slipping faster than overall TV prices in the first five months of 2020 had a Y/Y drop of 27.9%, compared to an overall volume decline of 14.8%, AVC's number indicated.
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