HONG KONG, Nov. 15, 2019 /PRNewswire/ -- TCL Electronics Holdings Limited ("TCL Electronics" or "the Company", stock code: 01070.HK) is pleased to announce that sales volume of TCL brand TVs in global markets surged by 21.2% year-on-year for the first three quarters of 2019. In accordance to Sigmaintel, the total TV shipment of the Company continuously mounted up and ranked No.2 globally with a market share of 13.2% gaining 1.1 percentage points from the same period of last year, which turns out to be the largest market share gain among the global top 3 TV brands and a narrower gap from the No.1 brand.
The Company continued to reap on its globalization strategy for the first three quarters of this year. The sales volume of TCL brand TVs in overseas markets rapidly increased by 33%, at a faster pace than that the Company had set for the whole year of 2019. Overseas markets, as the key driver for the Company's growth, recorded robust year-on-year growth across all major markets of the Company.
Growth in North American markets remained strong with a 31.7% year-on-year growth in sales volume. Contribution from sales volume sold through premium distributors grew up tremendously and product mix was further optimized. Sourced from the latest NPD market research report, TCL brand TVs sold in the US for the first three quarters of 2019 gained 3.3 percentage points in market share, representing 16.5% of total TV sets sold in the market. The gap of market share has been narrowed from 9.1 percentage points to 3 percentage points between TCL brand TVs and the first ranked brand. In March and July respectively, TCL brand TVs topped the US market in terms of sales volume. Besides, since the Company extended its business to Canada last November, it developed the market very quickly and ranked top 5 with a market share of 7.4% in terms of sales volume.
The sales volume of TCL brand TVs in the European market increased by 24.1% and 33% year-on-year in the first three quarters and in the third quarter respectively. In the first three quarters, the sales volume of TCL TVs in Spain, Italy, France and Germany significantly increased by 247%, 236%, 108% and 101% respectively. Noticeably, according to GfK data, TCL ranked No.3 in France in terms of market share for the first three quarters of 2019.
In emerging markets, sales volume of TCL brand TVs in the first three quarters grew by 36.5% year-on-year, while the growth rate in the third quarter even achieved more than 50% year-on-year. India, Argentina, Australia, Indonesia, Brazil and Russia are fast-growing markets with sales volume rising by 191%, 99%, 69%, 55%, 47% and 34%, respectively. Brazilian and Indian markets performed extraordinarily well where the Company ranked top five in terms of TV sales volume. In Australia, the Company's market share for the first time jumped to No. 1 in the third quarter (source: GfK).
The Company continued to optimize its product mix and distribution channels in the Chinese market in order to continuously enhance its market competitiveness. In the first three quarters, sales volume of TCL brand TVs maintained an uptrend in the shrinking Chinese market, at a faster pace than the guidance the Company made for the full year of 2019 in an earlier time this year. Proportion of 4K and large screen TVs in sales volume recorded a significant increase.
The Company's Internet business has developed rapidly. For the first time, the revenue from overseas Internet business was included in 2019, thus its profitability has been increased. In the future, TCL Electronics will continue to propel brand internationalization and brand influence, and will continue to enhance global market share. Meanwhile it will focus on the development of Internet business, and vigorously promote the "AI x IoT" strategy. In order to provide users with smart and healthy living products and services, the Company strives to realize the integration of all-scenarios via Hardware + Software + Interconnection of all devices integration. What's more, TCL Electronics' vision is to become a global leading smart technology Company and creates greater values for shareholders.
About TCL Electronics
Headquartered in China, TCL Electronics Holdings Limited (stock code: 01070.HK, incorporated in the Cayman Islands with limited liability) is one of the leading companies in the global TV industry engaging in the research and development, manufacturing and sales of consumer electronics products. Adopting a new business model oriented towards products and users and strategically focusing on "smart technologies + Internet" and "products + services", TCL Electronics is dedicated to becoming a globally leading smart technology Company and strives to build a comprehensive ecosystem for smart TVs, which provides users with smart and healthy living products and services. According to the latest Sigmaintell report, in the first half of 2019, the Company ranked second in the global TV market in terms of its market share based on sales volume. TCL Electronics has been incorporated into the eligible stocks list of the Shenzhen-Hong Kong Stock Connect Scheme, Hang Seng Stock Connect Hong Kong Index, Hang Seng Composite MidCap & SmallCap Index and Hang Seng Corporate Sustainability Benchmark Index. For more details, please visit the Company's website: http://electronics.tcl.com.
