TCL Electronics announced a positive profit alert projecting substantial earnings growth for the full year 2024. Based on preliminary review of unaudited management accounts, the company expects its adjusted net profit to reach between HK$1.3 billion and HK$1.7 billion ($166 million to $217 million), representing a YoY increase of 62% to 112%.
Global TV shipments reached a record 29 million units, up 14.8% YoY. The company showed particularly strong momentum in Q4 2024, with shipments increasing 19.3% YoY and 20.0% MoM. Shipments of 65-inch and larger TVs grew 21.3% YoY, reaching 26.0% of total shipments, while 75-inch and larger models surged 39.8% YoY to account for 13.2% of shipments. The company’s strategic focus on larger screens paid off with the increase in average screen size, which grew by 1.3 inches YoY to 52.4 inches.
The full-year forecast builds on strong first-half results, when TCL Electronics reported revenue of HK$45.5 billion ($5.8 billion), up 30.3% YoY, and adjusted net profit of HK$654 million ($83.6 million), up 147.3% YoY. The company shipped 12.52 million TV sets during this period, capturing 13.3% of global market share. Premium segments showed particularly strong growth in H1, with QLED TV shipments rising 64.4% YoY and MiniLED TV shipments soaring 122.4% YoY.
