TV shipments during China’s three-week shopping season around the National Day (September 21-October 11, 2020) totaled 2.684 million units, down 8.3% on year, according to All View Cloud (AVC).
Online TV sales during this period experienced their first ever on-year decline of 0.3%, while offline sales slid more sharply by 16.6%, highlighting dwindling market demand.
The impacts of the coronavirus pandemic and rising TV prices are cited as some of the reasons for the decline, according to industry sources.
Beginning in September, vendors including Skyworth, Hisense, Xiaomi and TCL have initiated price increases for major TV models below 65-inch sizes, with the hikes ranging from 10-30%, said the sources.
Prices of TVs sold through online shopping platforms during the three-week period averaged CNY2,508 (US$375.1), up 23% from a year earlier; those sold at physical retail shops averaged CNY4,613, up 7.6% on year, AVC data showed.-Digi Times