TCL Electronics (01070.HK) Announces 6.6% YoY Increase in Global Smart Screen Shipment in the First Three Quarters of 2023, as Mid-to-High-End Large-Screen Strategy Drives Sustained Growth in Shipment of Large-Sized Displays

HONG KONG, Oct. 23, 2023 /PRNewswire/ -- TCL Electronics Holdings Limited ("TCL Electronics" or the "Company", stock code: 01070.HK) today announced global shipment data for the first three quarters of 2023. Global shipment of TCL smart screens in the first three quarters of 2023 totalled 17.72 million sets, an increase of 6.6% year-on-year ("YoY"), as the Company continued to strengthen its global brand awareness and execute its "mid-to-high-end + large screen" and TCL + Falcon" dual-brand strategies. Shipment in the third quarter increased by 5.9% on a sequential basis to 6.26 million sets, reflecting continued improvement in shipment scale.

Mid-to-High-End and "TCL + Falcon" Dual-Brand Strategies Drive Double-Digit Growth in Shipment of Large-Sized Smart Screens

Amidst increasing market demand for large-screen entertainment and premium audio-visual quality, the TV industry is witnessing a mainstream trend towards large-screen and high-end products. In the first three quarters of 2023, global shipment of 65-inch and above TCL smart screens increased by 46.8% YoY, accounting for 23.5% of total shipment during the period with an increase of 6.4 percentage points YoY. The average size of TCL smart screens sold in the market increased from 47.4 inches to 50.5 inches. Meanwhile, mid-to-high-end product shipment maintained strong growth in the first three quarters of 2023, as global shipment of TCL Mini LED smart screens increased by 103.8% YoY while those of quantum dot ("QLED") smart screens increased by 83.1% YoY.

TCL Electronics continues to invest in Mini LED technology research and development, leveraging its innovation advantage to consolidate its leadership in this market segment. Following the launch of the TCL Q10H flagship Mini LED TV in May to cater to audio-visual enthusiasts, in August the Company released the world's first 115-inch QD-Mini LED giant-screen TV, the X11G Max, which offers the ultimate audio-visual experience for users seeking giant-screen audio-visual entertainment at home. TCL X11G Max is not only the world's largest QD-Mini LED TV, but also the first QD-Mini LED TV to feature 20,000+ partitions, with a peak brightness of 5,000 nits. Its hardware features, including the self-developed TXR Mini LED image enhancement processor chip and the ONKYO 6.2.2-channel Hi-Fi audio system, demonstrate TCL Electronics' impressive technical achievements in the field of large-screen TVs and Mini LED displays.

Steady, Synchronised Growth in Domestic and International Markets to Consolidate Global Leadership Position

TCL Electronics continues to actively expand its international sales channels. In the first three quarters of 2023, shipment of TCL smart screens in the international markets recorded YoY growth of 8.2%. TCL ranked among the top smart screen vendors in terms of shipment in multiple countries and regions. Shipment of emerging markets^[1] grew significantly, increasing 15.1% YoY in the first three quarters of 2023. TCL Electronics ranked the first in terms of shipment in the Philippines, Australia, Myanmar and Pakistan^[2]. Shipment of TCL smart screen of North America increased 11.4% YoY in the first three quarters of 2023, with the Company ranking the third in terms of shipment in the United States^[3]. Although Europe continues to face economic pressure, resulting in decreased demand for technology products, TCL smart screens continued to generate solid results in some European markets, firmly ranking the second in terms of shipment in France and the third in the Czech Republic and Sweden^[4].

In the PRC market, the shipment of TCL smart screen slightly increased by 1.7% YoY, ranking the second in terms of retail sales revenue^[5]. Large-sized smart screens continued to account for a growing proportion of shipment. In the first three quarters of 2023, shipment of 65-inch and above TCL smart screens increased by 33.1% YoY, accounting for 51.4% of total shipment in the PRC market, an increase of 12.1 percentage points YoY. Shipment of 75-inch and above TCL smart screens accounted for 30.2% of total shipment in the PRC market, an increase of 12.1 percentage points YoY.

Additionally, the Company saw an improvement in the shipment of small-and-medium-sized displays, recording an 8.2% sequential increase in the third quarter of 2023, with total shipment of 7.82 million sets in the first three quarters of 2023.

Going forward, TCL Electronics will continue to execute its "Globalisation" and "Technological Transformation" strategies. By actively implementing an "intelligent IoT ecosystem" across all its product categories, the Company aims to provide consumers with a more comfortable living experience and is committed to becoming a leader in the global intelligent device market.

About TCL Electronics

TCL Electronics Holdings Limited ("TCL Electronics" or "the Company", stock code: 1070.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 "Value Led by Brand with Relative Cost Advantage, Ultimate Efficiency Management and Collaborative Innovation". 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 as well as Shanghai-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 six consecutive years since 2018.

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

SOURCE TCL Electronics