Chinese flat-panel TVs surpass 50% market share in Japan for the first time

In the domestic flat-panel TV market in Japan, the sales share of Chinese companies such as Hisense Group and TCL exceeded 50% for the first time in 2024. The market share of major Japanese companies Sony and Panasonic is less than 10%. Chinese companies use their global procurement capabilities and reasonable prices to expand sales centered on young people. Against the backdrop of brand penetration, Chinese companies are also increasing their presence in the high-priced large-size TV field.

The domestic market share of flat-panel TVs in Japan in 2024 (calculated by sales) calculated by Japanese research company BCN Research shows that the market share of Chinese companies exceeds 50%, which is the first time since statistics began in 2004.

In 2024, TVS REGZA, a subsidiary of Hisense that operates the former Toshiba “REGZA” brand, ranked first with 25.4%. Hisense’s own brand ranked third, accounting for 15.7%, and the group’s overall share reached 41.1%, exceeding 40% for the first time. TCL’s market share was 9.7%, surpassing Sony and Panasonic and jumping to fourth place.

Chinese companies such as Hisense and TCL sell their products worldwide and reduce costs by purchasing large quantities of components such as monitors. Panasonic’s 55-inch LCD TV costs around 200,000 yen (about 9,320 yuan), while Hisense’s costs less than 100,000 yen (about 4,660 yuan). “Affected by rising prices, people’s awareness of saving has increased, and they are turning to Chinese brands,” said Mori Eiji, chief analyst at BCN Research Institute.

Affected by the demand for staying at home during the COVID-19 pandemic, the trend of consumers watching online videos on TV has increased since around 2020. Chinese companies have opened up the TV market that supports online videos in Japan with affordable prices, increasing their market share by about 20 percentage points from 2020 to 2024.

In August 2024, Xiaomi launched a 43-inch TV at a price of 39,800 yen (about 1,850 yuan) specifically for online videos and games that cannot use terrestrial waves. The head of the home appliance hypermarket said that Chinese brands are constantly penetrating, mainly among young people, and there are also prominent cases of specifically purchasing cheap Chinese products.

Chinese companies have been developing the Japanese market with small and medium-sized TVs below 40 inches, but recently they have also launched an offensive in large-screen, high-definition products. Hisense uses “Mini LED” made of tiny light-emitting diodes (LEDs) to develop the high-priced market with TVs that can make colors more vivid even on large screens. Hisense’s TV sales in Japan have increased by 33% compared to 2023.

Japanese companies hope to make a comeback with high-value-added products equipped with functions such as artificial intelligence (AI). Sony has jointly developed with Amazon in the United States and launched a TV that automatically adjusts the picture quality according to the type of content. Panasonic will launch a TV that provides content recommendations based on the audience’s viewing history and preferences.

It has been nearly 20 years since flat-screen TVs began to become popular, and it is becoming increasingly difficult to differentiate from other companies in terms of performance such as picture quality and screen size. How Japanese companies promote technologies and functions that are easy for consumers to understand is being tested.