TCLE (01070.HK) Achieves Nearly 15% YoY Growth in Global TV Shipment in 2024

Global Shipment of TCL Mini LED TV Surges Almost 200% YoY

HONG KONG, Feb. 3, 2025 /PRNewswire/ -- TCL Electronics Holdings Limited ("TCL Electronics" or the "Company", 01070.HK) is pleased to announce its global shipment data of TCL TV for 2024. Benefiting from the successful implementation of the Company's "TCL + Falcon" dual brand and "mid-to-high-end + large-screen" strategies, as well as continuous innovation of Mini LED display technology to reinforce its competitive edge, global shipment of TCL TV experienced a year-on-year ("YoY") growth of 14.8% in 2024, reaching a new record high of 29 million sets. Among which, the global shipment of TCL TV increased by 19.3% YoY and 20.0% quarter-on-quarter ("QoQ") respectively in the fourth quarter of 2024, demonstrating robust growth momentum.

"Mid-to-High-End + Large-Screen" Trend Continues, Mini LED TV Shipment Further Accelerates, Fully Embracing Intelligent AI

Throughout 2024, TCL Electronics continuously capitalised on the global market trends of larger screen sizes and premium features, maintaining double-digit growth in the shipment of large-screen TV. The global shipment of 65-inch and above TCL TV increased by 21.3% YoY, with its corresponding proportion rising by 1.4 percentage points to 26.0%. The global shipment of 75-inch and above TCL TV saw an even more impressive YoY increase of 39.8%, with its shipment proportion rising by 2.4 percentage points to 13.2%. The average screen size of global shipment of TCL TV increased by 1.3 inches YoY to 52.4 inches.

Simultaneously, TCL Electronics continued to invest in research and development of high-end display and AI intelligent technologies, further enhancing product competitiveness and introducing well-received mid-to-high-end display products. In 2024, the global shipment of TCL QLED TV increased by 69.5% YoY, while the global shipment of TCL Mini LED TV saw a remarkable 194.5% YoY growth.

At the Consumer Electronics Show (CES) 2025, TCL Electronics showcased its continuous breakthroughs in display technologies, introducing the X11K QD-Mini LED TV for the North American market, representing the "pinnacle of image quality". This TV model utilises the world's leading QD-Mini LED technology, featuring an impressive 14,000-level local dimming zones and a peak brightness of 6,500 nits. Combined with TCL's All-domain Halo Control Technology, industry-leading self-developed lenses, high-efficiency light-emitting chips, ultra-close OD, backlight response algorithms, and a 7,000:1 ultra-high native contrast ratio screen, the X11K elevates Mini LED display to new heights within the industry. The TCL X11K TV also received the CES 2025 "Mini LED Display Technology Innovation Award".

In addition, the Company unveiled the world's first modular AI home companion robot, TCL Ai Me, at CES 2025. This AI robot features an adorable bionic appearance design with interchangeable outfits and a mobile space capsule base, tailored specifically for modern families. Ai Me possesses multimodal natural interaction capabilities, providing emotional companionship and personified interactions, while being capable of moving intelligently and automatically capturing beautiful family moments. Through continuous interaction with users, Ai Me is able to learn and adapt to family members' behavioural habits, intelligently control home appliances, and enhance the convenience and comfort of daily life, providing a personalised interactive experience for each family member. This innovation was highly appreciated by the vast majority of exhibition visitors.

At the same time, the Company further deepened its cooperation with Google, integrating Google's AI large-language model, Gemini, into its overseas flagship television series, significantly enhancing product functionality and user experience. Gemini's powerful natural language processing capabilities enable more intelligent and smooth voice interactions when integrated with TVs. Moreover, Gemini can perform in-depth analysis and precise matching based on each family member's unique viewing habits and interests, providing users with highly personalised program recommendations. The introduction of Gemini offers users a more intelligent and convenient product experience.

Shipment in International Market Maintains Leading Position, Mini LED Shipment in Domestic Market Exceeds Expectations

In 2024, amid major sporting events such as the European Cup and the Olympic Games, TCL Electronics, through precise marketing in the global market, achieved a YoY increase of 17.6% in TCL TV shipment in the international market. The shipment of large-screen TV in the international market also grew rapidly, with 65-inch and above TCL TV increasing by 32.4% YoY, and 75-inch and above TCL TV increasing significantly by 79.7%.

Regionally, benefiting from increased channel penetration, shipment of TCL-branded TV in the European market maintained rapid growth, with a YoY increase of 33.8% in 2024. The shipment of 75-inch and above TCL TV performed particularly well, with a significant YoY increase of 104.9%. Meanwhile, TCL TV ranked second in retail sales volume in France, Poland, and Sweden, and third in Spain, Greece, and the Czech Republic^[1]. In North America, the Company effectively enhanced its brand competitiveness through localised brand communication, such as partnering with the National Football League (NFL), while actively adjusting channel and product structure. In 2024, shipment of TCL TV in North America increased by 6.4% YoY, among which 75-inch and above TCL TV increasing by 67.6% YoY, maintaining a top-two position in market share in terms of retail sales volume in the United States^[2]. In emerging markets, shipment of TCL TV increased by 12.7% YoY in 2024, with an even higher YoY increase of 32.8% in the fourth quarter. The Company further deepened its presence in the Latin American market and expanded channels in the Middle East and Africa market, with shipment of TCL TV increasing by 17.6% and 39.6% YoY, respectively, in 2024. TCL TV maintained the industry's top position in retail sales volume in Australia, the Philippines, Myanmar, and Pakistan, jumped to second in Brazil, and ranked third in Argentina, Vietnam, Thailand, and South Korea^[1].

In the domestic market, the Company continued to promote its "TCL + Falcon" dual brand strategy. In 2024, TCL TV shipment in the PRC market increased by 5.8% YoY, with Falcon brand TV continuing to penetrate the youth market, achieving a YoY growth rate of 38.5% in shipment. TCL Electronics also successfully promoted the "mid-to-high-end + large screen" strategy in the PRC market. Benefiting from the stimulation of the national "trade-in" subsidy policy, the average screen size of TCL TV shipment in the PRC market reached 63.3 inches in 2024, representing an increase of 1.9 inches YoY. The shipment of 75-inch and above TCL TV increased by 23.1% YoY, with the proportion of shipment increasing by 5.3 percentage points to 37.7%. Moreover, in 2024, the shipment of TCL Mini LED TV in the PRC market increased by 264.7% YoY, with the cumulative shipment share of TCL Mini LED TV increasing by 10.9 percentage points YoY to 15.3%, and the shipment share of TCL Mini LED TV in the fourth quarter of 2024 significantly increasing to 24.4%. In 2024, the Company ranked first in retail sales volume of Mini LED TV in the PRC market^[3].

Looking ahead, TCL Electronics will continue to execute its "Globalisation" and "Technological Transformation" strategies, adhering to the development strategy of "Lead with Brand Value, Excel in Global Efficiency, Drive with Technology, Thrive on Global Vitality", and the concept of innovation-driven development. With comprehensive technological breakthroughs and user-friendly design, the Company will continuously promote the development trend of smart living, bringing more convenient, comfortable, and environmentally friendly living experiences to global users. By actively implementing the all-category layout of "Intelligent IoT Ecosystem", the Company strives to become a leading smart device enterprise with global operations.

About TCL Electronics

TCL Electronics Holdings Limited (01070.HK, incorporated in the Cayman Islands with limited liability) was listed on the mainboard of the Hong Kong Stock Exchange in November 1999. It is engaged in display business, innovative business and internet business. TCL Electronics actively transforms and innovates under the strategy of "Lead with Brand Value, Excel in Global Efficiency, Drive with Technology, Thrive on Global Vitality". Focusing on the mid-to-high-end markets around the world, the Company strives to consolidate the "Intelligent IoT Ecosystem" strategy and is committed to providing users with an all-scenario smart and healthy life while developing into a world-leading smart technology company. TCL Electronics is part of the Shenzhen-Hong Kong Stock Connect program and is included in the Hang Seng Stock Connect Hong Kong Index, the Hang Seng Composite MidCap & SmallCap Index and the Hang Seng Corporate Sustainability Benchmark Index. Besides, it has received Hang Seng Index's ESG rating of A for consecutive years since 2018.

For more information, please visit the investor relations web page of TCL Electronics at   http://electronics.tcl.com or follow the WeChat Official Page of TCL Electronics investor relations.

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SOURCE TCL Electronics Holdings Limited