TV sales in China hit 12-year low in 2021, says AVC

There were 38.35 million TVs sold in the China market in 2021, decreasing 13.8% on year, the lowest annual level since 2010, according to China-based All View Cloud (AVC).

Due to global shortages, prices for TV-use LCD panels kept rising from 2020 until mid-2021. This forced TV vendors to hike retail prices for LCD TVs and consequently, demand in the China market significantly decreased, AVC said.

Prices for TV-use LCD panels turned in July 2021 and have continually dropped since then, pushing LCD TV vendors to lower retail prices, AVC noted. As a result, 2.79 million TVs were sold for CNY9.5 billion (US$1.5 billion) in the China market during the 2022 New Year sales promotion period from December 20, 2021 to January 9, 2022, growing 4.1% on year, AVC indicated.

There will be 40.46 million TVs sold in the China market in 2022, increasing 5.5% on year, AVC forecasts.