TCL Electronics Did Well in the Mid-to-High-End Market in 2022

TCL recently announced its 2022 annual results, revealing significant growth and resilience despite the challenges posed by the global economy. The company achieved positive results in both its display and innovative businesses, with revenue of US$9.14 billion and a gross profit of US$1.68 billion.

The company’s strategy of “Value Led by Brand with Relative Cost Advantage,” focused on mid-to-high-end products and implemented the “high-end + large-screen” strategy, resulted in continuous breakthroughs in the mid-to-high-end market. TCL Electronics has also expanded its intelligent IoT ecosystem layout across all categories, accelerating the introduction of products like air-conditioners, refrigerators, and washing machines to international markets.

Despite the complicated market environment, TCL Electronics has continuously increased its global shipment of TCL smart screens, recording a 0.8% year-on-year increase to 23.8 million sets, while the shipment of TCL smart screens of 65 inches and above rose by 75.7% year-on-year.

In the PRC market, TCL Electronics made breakthroughs despite a sustained weakening of household appliance consumption due to the pandemic. The company continued to enhance its product mix and optimize online and offline sales channels, leading to a 21.3% year-on-year growth in the overall shipment of TCL smart screens in the PRC market in 2022.

TCL Electronics capitalized on the global shift towards clean energy and carbon neutrality and utilized its industrial synergy to partner with TCL Zhonghuan to penetrate and compete in the PV sector. The PV business generated revenue of US$42 million for the year. Additionally, Falcon Innovations Technology introduced several stylish consumer AR/XR smart glasses in 2022, and Falcon Innovations tops the list with a 28.4% market share of online sales of consumer AR glasses.

TCL Electronics is committed to deepening the global presence of its home Internet business and strives to offer users with products and services that allow multi-screen, real-time interaction, and smart sensing across all scenarios. The company’s global Internet business revenue reached US$297 million, representing a 24.3% increase year-on-year.