- TCL recently informed that its TV sales had doubled in United States
- China based TCL re-entered Indian markets in 2016
- Xiaomi had bought shares in TCL earlier this year
In the first half of 2019, TCL Electronics’ market share in terms of TV shipments reached 14.3 per cent, up by 2.5 percentage points year-on-year in the global TV market. The company, as per a report by Sigmaintell, surpassed LG to become the number two in terms of market share.
Interestingly, TCL went through many ups and downs in the Indian markets. After quitting the market operations here, TCL, had re-entered India in 2016. TCL started its global operations in 2015.
“Population is the biggest potential and advantage in both India and Indonesia. TCL Electronics has absolute advantages in terms of sales channels, capacity, all-rounded sales, after-sales layout and global brand awareness. Therefore, it is expected that TCL Electronics has a bright future in terms of sales volume and business performance in these countries,” read TCL’s official statement.
Performance in India and China
During the first six months period, sales volume of TCL branded TVs in overseas market increased by 49.8 per cent year-on-year to 7.07 million sets. Its sales volume in North American markets jumped by 75 per cent year-on-year during the first half of 2019, with its market share in terms of TV sales volume ranking Number in the US market.
In terms of India, its sales saw a growth of around 28.8 per cent. As a matter of fact, TCL informed that its sales volume grew around the same figure in many markets like South America, Australia and South Asia. Sales volume of TCL branded TVs in China increased by 6.9 per cent. It is to be noted here that retail sales volume of the overall China TV market fell by 4.3 per cent.
As of March 2019, India had a population of 1.34 billion, second-largest population after China. India’s total GDP ranked number seven in the world in 2018. According to GfK, the current Indian TV market capacity is 12.5 million sets, which only accounts for a quarter of China.
China based Xiaomi Corporation had earluer announced that it had bought 65,168,803 shares, or 0.48 percent of TCL Corporation, from Shenzhen Stock Exchange’s secondary market. TCL on the development had said, “Xiaomi’s investment in our shares will strengthen the collaboration between the two companies, and therefore help to build a closer strategic partnership.”
It is to be noted here that Xiaomi has been growing in terms of TV business here in India. As a matter of fact it is also one of the top selling smart TV brands in China.
“The two companies have shown a strong presence in their business. We believe Xiaomi’s strong product development and superior R&D capabilities, combined with our rich supply chain and production experience, will form a strong industrial synergy effect,” continued TCL’s official statement issued back in January 2018.