On the evening of the 31st, Skyworth released three new OLED TV products in Guangzhou in a high-profile manner, taking the lead in launching the color TV market battle in the second half of the year. It coincided with the middle of the year. Recently, some domestic color TV giants also released semi-annual reports. Catch up with the World Cup year, the color TV market in the first half of this year did not sell well, but it did not get out of trouble, and the battlefield for high-end products was gradually filled with smoke.
Recently, the China Electronics Video Industry Association and Aowei Cloud Network Big Data Technology Co., Ltd. jointly released the color TV market data for the first half of this year, showing that the retail volume of China's color TV market in the first half of this year was 22.6 million units, a year-on-year increase of 3.6%. It was 72.5 billion yuan, a year-on-year decrease of 2.0%, and the retail area was 15.53 million square meters, a year-on-year increase of 10.2%.
According to data from Aowei Cloud Network, from the perspective of channels, online has shown rapid growth. In the first half of this year, online retail sales accounted for 44%, an increase of 9% compared to the same period last year. The online growth did not bring about the overall market growth, but caused the offline channels to decline across the board. Among them, large chains fell by 11%, and other home appliances fell by 12%.
Data from the market research organization Zhongyikang shows that in the first half of this year, the size of China's color TV market was 22.66 million units, an increase of 0.7% year-on-year, and the scale of retail sales was 71.1 billion yuan, down 5.9% year-on-year.
Statistics from Zhongyikang show that the offline market, which has been highly expected by traditional color TV brands, has experienced a significant decline, while the online market still maintains high growth. In the first half of this year, the sales volume under the color cable market fell by 16.5%, and the sales volume fell by 13.3%; however, the online sales volume increased by 40.4%, and the sales volume increased by more than 20%.
Declining panel prices "benefit"Since the beginning of this year, the biggest benefit for domestic complete machine manufacturers should be the decline in panel prices.
The data shows that from the upstream panel, panel prices have dropped significantly this year compared to last year, and the prices of key sizes have fallen by more than 20%. Aowei Cloud predicts that the supply of 65-inch panels will continue to increase rapidly, and it is expected to drop by US$5 in July.
At present, the production capacity of liquid crystal panels is sufficient, and the supply of large-size panels will continue to increase, which is causing the prices of panels, especially large-size panels, to continue to fall.
Previously, the media reported that BOE’s 65-inch panel would cut its price by 20%. BOE has rejected the rumors, but the continued decline in the price of 65-inch panels has become an irreversible trend. At present, there are more than 6 ultra-high-generation lines planned in mainland China. Among them, BOE’s 10.5-generation line was completed and put into production in Hefei last year and will gradually increase production capacity in the third quarter of this year. BOE’s second 10.5-generation line project is currently also Under construction in Wuhan; China Star Optoelectronics Shenzhen's 11th generation project will be lit in December this year, mass production in March next year, and the second 11th generation line project will soon be constructed. In addition, large-size panel production lines such as LG Display and Foxconn in Guangzhou will provide large-size LCD panels in the future.
From the financial reports of some upstream panel companies in the first half of this year, we can also feel the obvious trend of decline in panel prices.
Samsung Electronics’ second-quarter financial report released on the 31st showed that Samsung’s display panel division’s sales were 5.67 trillion won (approximately US$5.1 billion), a drop of 26% from the 7.71 trillion won in the same period last year; operating profit was 0.14 trillion. South Korean won (approximately 100 million U.S. dollars), down 92% from 1.71 trillion won in the same period last year, and both sales and profits declined.
LG Display and LG Display’s second-quarter financial report revealed that LGD’s revenue fell 15% year-on-year to 5.6 trillion won (approximately US$4.9697 million); an operating loss of 228 billion won (approximately US$202.1 million). This is the company's two consecutive quarters of losses.
TCL stated in its semi-annual financial report that in the first half of this year, the production volume of CSOT's t1 and t2 production lines increased by 7.49% year-on-year, and continued to maintain full production and sales. The t3 production line production capacity has steadily increased, and the t4 and t6 construction projects proceeded smoothly. Affected by the panel industry cycle, the average price of major size panels in the first half of the year was significantly lower than the same period last year, and China Star Optoelectronics' performance fell year-on-year.
Performance of domestic companies "take a breather"With the decline in the prices of components such as panels, even though sales are not ideal, profit margins are still much better than last year.
TCL Group's semi-annual report shows that the net profit attributable to shareholders of listed companies in the first half of the year was 1.55 billion to 1.65 billion yuan, an increase of 50% to 60% over the same period of the previous year.
The announcement disclosed that in the first half of the year, TCL Group achieved a total of 13.510 million LCD TV sales (including commercial displays), a year-on-year increase of 37.8%, of which smart TV sales were 9.383 million, a year-on-year increase of 53.3%. As of the end of the reporting period, the company's home Internet and mobile Internet operable terminals and the number of active users continued to grow rapidly. The cumulative number of activated users operated by smart network TV terminals has reached 27.354 million, the cumulative number of activated users of smart network TV terminals operated by Huan.com has reached 45.365 million, and the cumulative number of activated users of mobile Internet application platforms has reached 428 million.
Skyworth Digital recently issued an announcement stating that the company's net profit in the first half of 2018 is expected to be 145 million to 175 million yuan, a year-on-year increase of 166.5%-221.7%.
Regarding the reasons for the changes in performance, Skyworth Digital said that in the first half of 2018, the net profit has increased significantly compared with the same period of the previous year. Based on the company's sales and operating income maintaining stable growth, market coverage and market share are further increasing. At the same time, the price of memory chips in the company's core raw materials has been steadily declining. The company has implemented full-factor optimization of the supply chain, increased gross profit margin, and avoided foreign exchange loss risks.
Konka’s semi-annual performance forecast shows that in the first half of this year, Konka is expected to achieve a 54% increase in operating income and a net profit of 320-350 million yuan.
Difficult to "get out of trouble" by price warAlthough the performance of some color TV giants recovered in the first half of the year, industry insiders pointed out that the color TV industry actually started a "price war" in the first half of this year, which compressed the profit margins brought about by the decline in panel prices.
"The price war is fought. Although sales have increased, it is difficult for sales to rise. This is the characteristic of the entire industry in the first half of the year." Some practitioners pointed out to reporters. Take Skyworth Digital as an example. From April to June this year, Skyworth’s TV sales in the Chinese market were 1.751 million units, a year-on-year increase of 7.4%, while sales were 3.751 billion Hong Kong dollars (approximately RMB 3.26 billion), a year-on-year decrease of 2.3 %.
The reporter was informed that before the Suning 818 Shopping Festival, well-known color TV brands including Skyworth, Samsung, TCL, Hisense, etc., joined Suning to launch the "7.22 million people grabbing color TVs in empty lanes" campaign, and 65-inch color TV prices were as low as half off.
Zhu Yuanyuan, deputy general manager of the Black TV Business Unit of Allwin Cloud, analyzes that the decline in the panel will also bring benefits to the Chinese color TV market, but its development still faces many challenges. The price war is the biggest dilemma of the Chinese color TV market. The 30 years of rapid development of color TVs Among them, there are more than 20 large-scale price wars, with an average of once every 1.5 years. Price wars are like a "prisoner's dilemma" that consumes overall benefits.
The market survey of Fen Aowei Cloud Network shows that intensive promotion will form an "overdraft". The market size in March and June increased by 8% and 24% year-on-year respectively, forming the peak of the promotion and overdrawing the market demand before and after the promotion; in fact, The increase brought about by price stimulus is shrinking. The average price of the online color TV market in the first half of this year was 2,545 yuan, a year-on-year decrease of 10.2%. In the first half of 2016, for every 1 yuan decrease in the average price, the growth of the online market size was 9,479 units, and for every 1 yuan decrease in the average price in the first half of this year, the online market size increased to 7,956 units.
Another market research institution GfK (GfK China) directly shows that the average unit price of color TVs in the first half of the year has fallen at a staggering speed. The overall average market price from January to May of this year fell by 4.7% year-on-year. Among them, the online market The "price war" started early, and the average price fell by 11.6% year-on-year.
Peng Jianfeng, deputy secretary general of the China Electronics Video Industry Association, said that the current embarrassing situation is that when the price of the panel is reduced, the price of the color TV will also drop; but when the price of the panel is increased, the color TV is difficult to rise.
Yang Jungang, general manager of Internet TV brand KKTV, believes that the supply of panel manufacturing exceeds demand, malicious price wars in some channels, and fierce competition from traditional, Internet, and joint venture brands are the reasons for the decline in the entire color TV market this year.
High-end products become a place for profit competitionCompared with low-end products, high-end products may still be able to withstand the "toss" of price wars, and the battle for this position has become increasingly fierce since the beginning of this year.
On July 31, Skyworth released three new OLED TV products in Guangzhou with high profile, namely MAX TV OLED series exclusive W80, MAX TV OLED series flagship version S9A and MAX TV OLED series glory version S8A, and demonstrated its independent research and development on site. Chameleon AI independent image quality chip, three-dimensional panoramic sound and full-time AI technology.
Skyworth is the first manufacturer to launch OLED TVs in China. In 2013, Skyworth launched China's first OLED TV, and successfully mass-produced 4K OLED TVs in 2015. According to statistics from Aowei Cloud Network, the overall sales of Skyworth OLED TVs in 2017 accounted for 46.0% of the total OLED sales in the Chinese market.
Currently, more and more complete machine manufacturers are joining the OLED camp. Since the end of 2017, the OLED camp has expanded to Philips, including 13 Japanese manufacturers such as Sony and Panasonic, Korean manufacturers such as LG Electronics, and major Chinese manufacturers such as Skyworth, Changhong and Konka. In the second half of this year, Hisense and Toshiba will also join the OLED TV camp.
HIS predicts that in the third quarter, OLED TVs will grow by 120.4% year-on-year, becoming the fastest growing market in the world; and in the high-end TV market of US$2,500, the proportion of OLED TVs will reach 70.7% by the end of 2018, becoming the absolute mainstream. Focusing on the Chinese market, China's OLED TV will continue to grow at a high rate next year, an increase of 115.5% over this year. By then, China will become the only region in the world where the growth rate of OLED TV exceeds 100%. By then, the second-ranked Japan will have a growth rate of 64.7%.
As the OLED TV camp continues to expand, its competition will become more intense. And to obtain better display effects on products such as OLED TVs, larger screens are also a trend.
Industry insiders pointed out that TV size boundaries are constantly being refreshed, and the "60+" era has begun. In the first half of this year, 65 inches has become the largest growth size in the color TV market. During the May Day promotion this year, 65 inches in the offline market replaced 32 inches as the second largest size in the offline market.
According to reports, the rapid expansion of 65-inch is that, on the one hand, the supply of upstream panels can meet market demand. With the continuous increase in the production capacity of 10.5-line panels, the 65-inch panel makers are planning aggressively this year. Global panel shipments are BP of 17 million, which is higher than that. An increase of 55% last year. On the other hand, from the perspective of the terminal market, large size is one of consumers' expectations for future TV products. The market acceptance of 65-inch products is relatively high. At the same time, the price of 65-inch products continues to decrease, stimulating consumer demand for purchase.
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