Xiaomi, known for its diverse range of products beyond smartphones, has made a remarkable impact in the TV industry with its highly popular Xiaomi TVs. Not only dominating the domestic market in China, but Xiaomi has also emerged as a significant player globally.
While Xiaomi manufactures and sells televisions under their own branding globally, they have particularly solidified their position as the number one TV brand in China. Xiaomi’s success extends beyond its home country, with India being another thriving market for Xiaomi TVs.
China TV marker: Redmi and Xiaomi TVs take the lead with a huge gap
In May, Xiaomi recorded impressive TV sales rates in China, reaching a staggering 700,000 units, including their Redmi TVs. Another popular TV brand in China, Hisense, sold 600,000 units during the same period. Xiaomi witnessed a modest 1% increase in sales year-on-year, further solidifying their leading position. However, the outlook appears challenging for Huawei, which experienced a significant decline, selling approximately 100,000 units of Huawei TVs, marking a 50% drop year-on-year.
Globally available popular TV brands have struggled to gain atraction in the Chinese market. Sony, Samsung, Philips, and Sharp, the four major foreign brands, collectively sold less than 150,000 units in May. These brands have long been grappling with limited market share, which remains below 5%. Their year-on-year growth rate reflects a double-digit negative trend.
The standalone sales rate of Xiaomi TV outperforms the globally available brands with a huge margin. It seems that the Chinese TV market is very different from the global. One significant contributing factor could be the competitive pricing and different software offerings in China. Unlike the global consumers reliant on Google services, Chinese consumers have a preference for their local TV services, further bolstering Xiaomi TV’s sale rates.