TCLE (01070.HK) Mini LED Smart Screens Win CES® 2023 Innovation Awards

Global Sales Volume of TCL Smart Screens in 2022 Q1-Q3 Ranks Third in the World

HONG KONG, Nov. 28, 2022 /PRNewswire/ -- TCL Electronics Holdings Limited ("TCL Electronics" or the "Company", 01070.HK) is pleased to announce that TCL Mini LED 4K Smart Screen 75C935 and TCL Mini LED 4K Smart Screen 75C835 have been awarded the CES^® 2023 Innovation Award for their striking innovative design and engineering features.

The CES Innovation Awards program is an annual competition honoring outstanding design and engineering in consumer technology products. The program recognizes honorees in a multitude of consumer technology product categories and distinguishes the highest rated in each. The fact that TCL Electronics wins two CES^® 2023 Innovation Awards is a testament to the industry's acknowledgement of TCL Mini LED smart screens, and a testament to the extraordinary strength of TCL Mini LED smart screens.

Known as the "next generation display technology", Mini LED backlight technology is an upgraded version of the traditional LED backlight technology. Compared to OLED, Mini LED is more stable with a longer life cycle and lower cost. TCL Electronics has been committed to the research and development of Mini LED technology and has become the industry leader by launching the world's first Mini LED smart screen in 2019. Over years, TCL Mini LED smart screens have been well received by consumers. According to CMM's omni-channel data, the market share of TCL Mini LED smart screens in terms of retail sales volume in the first three quarters of 2022 exceeded 52% in the domestic Mini LED TV market, remaining its No.1 ranking with an absolute advantage. During the "Double Eleven" Shopping Festival^[1], TCL Mini LED smart screens became the top performer in both sales volume and sales revenue across all channels of e-commerce in the PRC market.

In the first three quarters of this year, demand in the global consumer market was under pressure due to factors such as the pandemic. According to the latest statistics from Omdia, sales volume of global TVs in the first three quarters of this year amounted to 143 million sets, down by 4.4% year-on-year; its sales revenue was US$72.39 billion, down by 12.7% year-on-year. However, the market share of TCL smart screens in terms of sales volume in the first three quarters of 2022 still bucked the trend and increased by 0.6 percentage points to 11.7%, firmly ranking No.3 globally. The increase of its market share in the third quarter was particularly obvious, rising by 0.9 percentage points to 12.6% year-on-year, ranking No. 2 in the world.

In the future, TCL Electronics will maintain high investment in research and development, attach importance to product innovation, continue to optimize the product structure, and vigorously develop high-end display technologies such as Mini LED, quantum dot and 8K to bring consumers a more enjoyable audiovisual experience.

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 "Value Led by Brand with Relative Cost Advantage". 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 five 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 by scanning the QR code below.

SOURCE TCL Electronics Holdings Limited