China Big-Screen TV Sales Leap as Prices Plummet, Screen Size Grows
Sharply declining prices fueled 80 percent year-over-year growth in big-screen TV sales during Q1 in China, said an IHS report Monday. With many new Chinese TV brands offering steep discounts, shipments of big-screen TVs in China rose to 3.8 million…
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units in Q1 vs. 2.1 million in the year-ago quarter, IHS said. Nearly two-thirds of big-screen Q1 TV shipments in China were 4K TV models, as 4K TV prices for 55-inch and larger sizes plummeted more than 36 percent year over year. “Very aggressive” brands in China offered 65-inch 4K TVs for under $900 in the period, well below the average global price of more than $1,700, said IHS. The aggressive prices are fueling growth of new brands in China, such as video streaming company LeTV, it said. Global TV shipments fell 2 percent in Q1 to 49.1 million units, making key categories like 4K TV and large-screen TVs critical to the stability of revenue and profit for global TV brands, said IHS. The global 4K TV market grew 99 percent year over year in Q1, reaching 9.3 million units, or about one in five TVs sold, said IHS. In recent years, China has surpassed North America in average TV size, said IHS analyst Paul Gagnon. Average TV screen size increased globally to a new high of 40.6 inches, while average screen size of TV shipments in China also reached a new high in Q1 at nearly 45 inches, IHS said.