TCL Electronics (01070.HK) Delivers Simultaneous Growth in TV Sales and Revenue for the First Three Quarters of 2025

Product Mix further Optimised with Global Shipment of Mini LED TV Increases by 153.3% YoY

HONG KONG, Oct. 28, 2025 /PRNewswire/ -- TCL Electronics Holdings Limited ("TCL Electronics" or the "Company", 01070.HK) today announced its global TV shipment data for the first three quarters of 2025. In the third quarter of 2025, global shipment of TCL TV reached 7.61 million sets, contributing to a total of 21.08 million sets of shipment in the first three quarters, representing a year-on-year ("YoY") increase of 5.3%. The Company's commitment to deepen its expertise in display technologies and increase research and development investment, has been a key driver of this success. Specifically, TCL Mini LED TV has garnered widespread global acclaim for the exceptional picture quality and innovative user experience. This has resulted in a significant surge in global shipment of TCL Mini LED TV, which grew by an impressive 153.3% YoY to reach 2.24 million sets in the first three quarters. Such strategic optimisation of the product mix has allowed the growth of Company's TV sales revenue outpace shipment performance, recording a YoY growth of 8.7% for the first three quarters.

"Mid-to-High-End + Large-Screen" Strategy Yields Significant Results, Driving Continuous Optimisation of Product Mix and a Steady Enhancement of Brand Value

TCL Electronics continued to execute its "mid-to-high-end and large-screen" strategy, with the shipment proportion of large-sized products further increasing. In the first three quarters of 2025, global shipment of 65-inch and above TCL TV rose by 25.8% YoY, with shipment proportion climbing from 24.3% in the same period last year to 29.0%. Global shipment of 75-inch and above TCL TV increased by 27.8% YoY, with the corresponding proportion up from 11.8% to 14.3%. The average screen size of TCL TV shipped worldwide expanded by 1.6 inches YoY to 53.6 inches. Benefiting from continued product mix optimisation, the global average selling price ("ASP") of TCL TV increased by 3.2% YoY in the first three quarters, including a 5.7% YoY increase in the third quarter.

Meanwhile, the Company continued to invest in global brand marketing and the build-out of its service system, steadily enhancing brand value. The TCL brand has been included in the Google × KANTAR BRANDZ Top 50 Chinese Global Brand Builders for nine consecutive years, ranking No.10 in 2025, up one place from last year, with brand power up by 20%. In the third quarter of 2025, the Company's SQD-Mini LED technology, with its revolutionary breakthrough in light and colour control, has not only put an end to problems such as cross-colour and colour halo that have plagued the industry for many years, but also reshaped the picture quality evaluation system with its All-domain Halo Control Technology. This solution, which features 100% BT.2020 global high color gamut and All-domain Halo Control Technology, is regarded as the most cutting-edge display technology at present. As a leading product line, TCL Mini LED TV sustained strong growth momentum, with global shipment up by 153.3% YoY in the first three quarters of 2025. The shipment proportion also rose by 6.7 percentage points to 11.4% over the same period.

Accelerated Expansion of Overseas Channels and AI-Enabled Product Ecosystem Drive Simultaneous Growth in TV Shipment and Revenue in International Market

In the international market, the Company actively expanded key regional channels, deepened collaboration with mid-to-high-end partners, strengthened its presence on major e-commerce platforms and executed diversified marketing initiatives, continuously increasing market share across regions. In the first three quarters of 2025, TCL TV shipment in the international market increased by 7.9% YoY. Large-sized and mid-to-high-end models delivered strong momentum, with shipment of 65-inch and above and 75-inch and above TCL TV in the international market rose by 44.6% and 61.8% YoY, respectively, while TCL Mini LED TV shipment surged by 235.4% YoY. Meanwhile, in September this year, TCL launched the TCL QM9K in the international market. It is the world's first TV with the built-in Google AI assistant Gemini. This product is equipped with a self-developed AI picture quality chip, which deeply optimises picture details, color performance and dynamic effects. At the same time, it also provides active AI services, acting as a home intelligent control centre, supporting schedule display, news summary and device linkage. This not only perfectly integrates intelligent interaction with excellent picture quality, but also reshapes the new value of TV as the home information centre. The rising sales contribution from mid-to-high-end and large-sized products underpinned both revenue and pricing in the first three quarters, revenue and ASP of TCL TV in the international market increased by 12.7% and 4.5% YoY, respectively. In particular, in the third quarter, revenue and ASP of TCL TV in the international market rose by 14.2% and 7.2% YoY, respectively.

Regionally, in Europe, benefitting from continued improvement in channel penetration, TCL-branded TV shipment rose by 20.0% YoY in the first three quarters of 2025, with third-quarter growth rate exceeding 30% YoY, sustaining strong scale expansion. Meanwhile, mid-to-high-end products performed exceptionally well, shipment of 65-inch and above and 75-inch and above TCL TV increased by 76.2% and 138.0% YoY, respectively, while TCL Mini LED TV shipment surged by 124.1% YoY, with shipment proportion up by 7.3 percentage points to 15.7%. TCL TV ranked No.2 by retail sales volume in France, Sweden and Poland, and No.3 in Spain, Greece, Belgium and the Czech Republic^[1].

In North America, the Company proactively optimised its distribution channel structure and increased the shipment contribution from mid-to-high-end channels. The product mix enhancement of TCL TV drove the ASP to rise by over 15.0% YoY in the first three quarters. Specifically, shipment of 65-inch and above TCL TV increased by 29.1% YoY, with their shipment proportion up by 9.8 percentage points to 32.1%; shipment of 75-inch and above models rose by 34.1% YoY, with the shipment proportion up by 4.8 percentage points to 14.5%; and TCL Mini LED TV shipment surged by 384.5% YoY, with the shipment proportion up by 7.1 percentage points to 8.7%. Effective execution of the mid-to-high-end strategy also supported a return to YoY shipment growth in North America in September. From January to August 2025, TCL TV remained among the top two by retail sales volume in the United States^[2].

In emerging markets, the Company adopted a "one-country-one-policy" approach, deepening offline channels while actively expanding e-commerce. This drove TCL TV shipment to increase by 16.3% YoY in the first three quarters of 2025. Shipment of 65-inch and above TCL TV rose by 46.7% YoY, while 75-inch and above TCL TV increased by 71.2% YoY. By market position, TCL TV ranked No.1 by retail sales volume in Australia, the Philippines, Saudi Arabia and Argentina; No.2 in Thailand, Myanmar, Brazil and Pakistan; and No.3 in Vietnam and Korea^[1].

In the PRC market, despite a 4.1% YoY decline in TCL TV shipment in the first three quarters of 2025 due to a phase of industry-wide adjustment, retail performance continued to outperform the market, with retail sales volume and retail sales revenue both firmly ranking among the top two^[3]. Meanwhile, the structural growth drivers of the product mix remained evident. TCL Mini LED TV shipment in the PRC market surged by 80.6% YoY, with its shipment proportion up by 9.6 percentage points to 20.6%. The shipment proportion of 65-inch and above TCL TV rose by 3.7 percentage points to 54.7%, while that of 75-inch and above TCL TV increased by 3.0 percentage points YoY to 35.7%. In the first three quarters of this year, the ASP of TCL TV in the PRC market increased by 3.4% YoY, including an 8.1% YoY increase in the third quarter.

Looking ahead, the Company will adhere to its operating philosophy of "Strategy Guidance, Innovation Drive, Advancing Manufacturing and Global Operation", and will continue to deepen its dual-engine strategy of "Mid-to-High-End + Globalisation". It will further enhance TCL's global brand momentum, increase R&D investment, and consolidate its strategic stronghold in the mid-to-high-end market. At the same time, the Company will continue to refine its regional positioning strategy and advance global localisation, pursuing a high-quality development path with stronger market competitiveness and brand strength. With this, TCL aims to create a smarter, more convenient and more human-centric blueprint for future living for consumers worldwide.

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 business philosophy of "Strategy Guidance, Innovation Drive, Advancing Manufacturing and Global Operation". 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 programme 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.

[1] Data Source: Company's internal report, January to August 2025.

[2] Data Source: Circana LLC, U.S Retail Market Survey Report, United States, January to August 2025.

[3] Data Source: CMM Omni-channel data, January to September 2025.

SOURCE TCL Electronics Holdings Limited