--- title: "CINNO Research: It is expected that the penetration rate of Mini LED TV sales in the domestic market will reach 40% by 2025" type: "News" locale: "en" url: "https://longbridge.com/en/news/228291127.md" description: "CINNO Research expects that by 2025, the domestic Mini LED TV sales penetration rate will reach 40%. In 2024, influenced by national subsidy policies and a recovery in market demand, the Mini LED TV sales penetration rate is expected to grow significantly, reaching 18% for the whole year. With the backlight industry chain reducing costs and increasing efficiency, and panel manufacturers implementing a large-size strategy, the Mini LED TV sales penetration rate will enter a rapid growth period starting from the second quarter of 2024, especially in the third and fourth quarters of 2024, where the sales penetration rate will exceed 30%" datetime: "2025-02-14T05:55:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/228291127.md) - [en](https://longbridge.com/en/news/228291127.md) - [zh-HK](https://longbridge.com/zh-HK/news/228291127.md) --- # CINNO Research: It is expected that the penetration rate of Mini LED TV sales in the domestic market will reach 40% by 2025 According to the Zhitong Finance APP, Charley Zhou, chief analyst at CINNO Research, stated that due to cost reduction and efficiency improvement in the upstream backlight supply chain and the large-size strategy implemented by panel manufacturers, the penetration rate of Mini LED TV sales in the Chinese market is expected to see significant growth in the second quarter of 2024. In August 2024, the national subsidy policy will activate the vitality of the domestic TV market, driving a short-term recovery in demand. A series of factors will lead to a surge in the penetration rate of domestic Mini LED TV sales in the third and fourth quarters of 2024, **with an annual penetration rate reaching 18%.** The new round of national subsidy policies in 2025 will continue to boost market confidence, **with the penetration rate of Mini LED TV sales in the domestic market expected to reach 40% in 2025.** ![Image](https://imageproxy.pbkrs.com/http://img.zhitongcaijing.com/images/contentformat/6acf2b9326bb4092790c0168edb27227.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) With the continuous updates and iterations of upstream cost reduction plans, Mini LED backlight technology is penetrating into the mid-range and even low-end markets. Coupled with the large-size strategy promoted by panel manufacturers in recent years, the sales structure of the domestic TV market is continuously upgrading towards larger screens. Starting from the second quarter of 2024, the penetration rate of Mini LED TV sales in the Chinese market has entered a rapid growth period, especially in the third and fourth quarters of last year, where the penetration rate of domestic Mini LED TVs experienced explosive growth with the support of national subsidy policies. According to CINNO Research data, the penetration rate of Mini LED TV sales in the domestic market approached 20% in the third quarter of 2024, and by the fourth quarter of last year, the penetration rate had surpassed 30%. The excellent performance of domestic Mini LED TV sales in the second half of 2024 will significantly increase the annual penetration rate to 18%, with sales nearly increasing sevenfold year-on-year. From the perspective of brand sales share rankings and year-on-year comparisons in the domestic Mini LED TV market, the combined sales share of the four major brands, Hisense, TCL, Skyworth, and Xiaomi, reached 90% in 2024, an increase of 1 percentage point year-on-year. Compared to 2023, among the four major domestic brands, except for TCL, the sales shares of Hisense, Skyworth, and Xiaomi have all increased, with Hisense ranking first and seeing a significant year-on-year increase of 11% in sales share, where the contribution of mid-range models such as E5N Pro, E5N Pro+, and E5 exceeded 60%. TCL insists on a high-quality route in promoting the Mini LED market, with nine models released in the first half of the year mainly targeting the mid-to-high-end market. Only mid-range models like T7K and Q9K performed outstandingly in sales. Although the T6K series of mid-to-low-end models were released in the second half of the year as a supplement, it still did not match the comprehensive layout strategy of Hisense, leading to a significant decline in sales share in 2024. Skyworth and Xiaomi ranked third and fourth respectively, thanks to the hot sales of models like A5D Pro and S Mini. In addition, the combined sales share of international brands such as Samsung and Sony in the domestic Mini LED TV market dropped to about 3% ![Image](https://imageproxy.pbkrs.com/http://img.zhitongcaijing.com/images/contentformat/11e63c4906cdc2899d2c3346d5c2b05f.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) The average selling price of terminal products often directly reflects the cost reduction effectiveness of the upstream industrial chain. In 2024, the average price of domestic Mini LED TVs in the mainstream size range of 43” to 100” is expected to decrease by 20% or more year-on-year, with the largest decline in average price for Mini LED TVs of 85” and above, approaching 30%. As the average price of domestic Mini LED TVs generally decreases in 2024, Mini LED TVs priced between 3,000 to 6,000 yuan are favored by consumers, with their sales proportion increasing by nearly 30% year-on-year. Moreover, over 60% of the best-selling products in this price range are concentrated in series models with 1,000 zones and below. From the above sales data, it can be seen that under the national subsidy policy, low-zone, high-cost-performance mid-to-low-end products are more conducive to the popularization of Mini LED TVs in the domestic market. The old-for-new policy in 2024 has a short duration but significant effectiveness. According to monthly appliance consumption market data released by the Ministry of Commerce, since September last year, the retail sales of appliances in units above the quota have achieved double-digit growth year-on-year for four consecutive months. In 2025, the domestic old-for-new policy will continue, and the subsidy methods and amounts related to TV products will largely follow the 2024 plan. The sales penetration rate of Mini LED TVs in the domestic market may continue to grow. If brands continue to launch a large number of mid-to-low-end Mini LED TV new models in 2025, it is expected that the sales penetration rate of Mini LED TVs in the domestic market will reach 40%. As televisions are durable consumer goods with a long replacement cycle, the subsidy policy has stimulated early consumption, driving a concentrated explosive growth in the sales penetration rate of domestic Mini LED TVs from last year to this year. However, as a short-term stimulus factor, the timing and method of the subsequent withdrawal of the national subsidy policy will also have a profound impact on market development in the coming years ### Related Stocks - [002429.CN](https://longbridge.com/en/quote/002429.CN.md) - [300303.CN](https://longbridge.com/en/quote/300303.CN.md) - [301321.CN](https://longbridge.com/en/quote/301321.CN.md) - [00921.HK](https://longbridge.com/en/quote/00921.HK.md) - [SONY.US](https://longbridge.com/en/quote/SONY.US.md) - [00751.HK](https://longbridge.com/en/quote/00751.HK.md) - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) ## Related News & Research - [LITEON invests US$34m for 21% stake in DenseLight](https://longbridge.com/en/news/294930138.md) - [08:04 ETSevii Expands ADR Platform with Autonomous Preemptive Security (APS) Module, Autonomously Transforming Intelligence Into Remediation Action](https://longbridge.com/en/news/294820906.md) - [10:24 ETCox Automotive Introduces Secure Vehicle Transfer to Close a Critical Industry Gap in Vehicle Transport Security](https://longbridge.com/en/news/294982127.md) - [Atlas Air completes strategic investment in Air Atlanta, takes 49% stake](https://longbridge.com/en/news/294691821.md) - [Nekkar unit Globetech buys 60% stake in maritime electronics supplier Satco](https://longbridge.com/en/news/294642109.md)