Shipment of Mini LED TV Surges by 176.1% YoY

HONG KONG, July 23, 2025 -- TCL Electronics Holdings Limited ("TCL Electronics" or the "Company", 01070.HK) today announced its global shipment data for the first half of 2025. Driven by the continued implementation of its "mid-to-high-end and large-screen" strategy and the steady enhancement of global brand influence, the global shipment of TCL TV reached 13.46 million sets in the first half of 2025, representing a year-on-year ("YoY") increase of 7.6%, maintaining its position among the world's top-two^[1] TV brands by shipment. The global shipment of TCL Mini LED TV soared by 176.1% YoY, firmly securing TCL's position as the global No.1^[1].

Global Shipment of "Mid-to-High-End + Large-Screen" TVs Continue Robust Growth, Product Portfolio Further Upgraded

Capitalising on the global trend towards large-screen and further refining its product mix, TCL Electronics sustained strong momentum in large-screen TV shipment. In the first half of 2025, the global shipment of 65-inch and above TCL TV grew by 29.7% YoY, with its shipment proportion rising by 4.8 percentage points to 28.4%. The global shipment of 75-inch and above TCL TV also surged by 29.7% YoY, with the corresponding shipment proportion up by 2.4 percentage points to 14.2%. The average screen size of global shipment of TCL TV increased by 1.5 inches YoY to 53.4 inches.

Meanwhile, TCL Electronics continued to enhance its focus on high-end display technologies. In the first half of 2025, the Company introduced the industry's first fourth-generation LED TV, featuring an innovative design with ZeroBorder and 100% screen display, offering an unrivalled immersive audio-visual experience for users. In the first half of 2025, the global shipment of TCL Mini LED TV reached 1.37 million sets, with its shipment proportion rising by 6.6 percentage points to 10.8%. The global shipment of TCL QLED TV rose by 73.7% YoY to 3.04 million sets, with its shipment proportion climbing 9.1 percentage points to 24.0%^{^}.

High-quality Expansion in the International Market, Sustained Momentum in China, and Outstanding Advances in Regional Strategic Execution

In the international market, the Company continues to reinforce its leading position in global supply chain and channel infrastructure, while further intensifying its global brand marketing efforts. Leveraging high-impact platforms such as international top-tier sporting events, exhibitions, eSports tournaments, and film collaborations, the Company comprehensively amplifies its brand value. These initiatives drive steady scale expansion of its TV business, and progressively realise the effectiveness of its mid-to-high-end strategy. In the first half of 2025, TCL TV shipment in the international market grew by 8.7% YoY. Notably, shipment of large-screen TV demonstrated rapid growth, with 65-inch and above TCL TV increasing by 47.3% YoY, and the corresponding shipment proportion rising by 5.5 percentage points to 21.0%. The shipment of 75-inch and above TCL TV surged even further, growing by 57.9% YoY, with the corresponding shipment proportion up by 2.5 percentage points to 8.1%. TCL Mini LED TV has garnered strong preference among overseas consumers as well, with its global shipment soaring by 196.8% YoY, and its shipment proportion expanding by 4.9 percentage points to 7.7%.

Regionally, the European market has strategically optimised its channel network, driving substantial gains in large-sized product sales. In the first half of 2025, the shipment of TCL-branded TV in Europe rose by 13.3% YoY. Shipment of 75-inch and above TCL TV experienced a remarkable 71.7% increase YoY, while the shipment of TCL Mini LED TV surged by 91.0% YoY. TCL TV secured a solid top two in retail sales volume in France and Poland^[2], and consistently ranked within the top three across Sweden, Spain, Greece, and the Czech Republic^[2].

In emerging markets, encompassing Asia-Pacific, Latin America, and the Middle East and Africa, the Company has further refined its sports marketing matrix and strengthened sales and retail channels. As a result, TCL TV shipment grew by 17.9% YoY. Notably, shipment of 65-inch and above TCL TV increased by 45.8%, while 75-inch and above TCL TV surged by 68.4% YoY. TCL TV ranked first in retail sales volume in Philippines, Australia, Argentina and Pakistan, and ranked among the top two in Brazil, Saudi Arabia, Thailand and Myanmar, while ranked third in Vietnam and South Korea^[2].

In the first half of 2025, the Company further advanced its strategic focus on the mid-to-high-end segment and product mix optimisation in the North American market. While overall TCL TV shipment in the region declined by 7.3% YoY, the Company achieved notable progress in upgrading its product mix. Shipment of 65-inch and above TCL TV grew by an impressive 60.5% YoY, with its shipment proportion rising by 13.0 percentage points to 30.7%. Meanwhile, the shipment of 75-inch and above TCL TV also saw strong momentum, with shipment increasing by 43.8% YoY, along with its shipment proportion climbing 4.7 percentage points to 13.1%. The shipment of TCL Mini LED TV posted exceptional performance, with shipment in North America surging by 349.6% YoY, and its shipment proportion expanded by 6.0 percentage points, reaching 7.6%. TCL TV sustained strong upward momentum across sales volume and revenue, with its solid ranking among the top two in terms of market share of retail sales volume in the United States market^[3].

In the PRC market, TCL Electronics continued to deepen its presence in mid-to-high-end products, fuelled by brand elevation and technological innovation. The Company further accelerated the momentum of its dual-brand strategy of "TCL + Falcon". TCL TV shipment in the PRC market expanded by 3.5% YoY in the first half year of 2025, and shipment of TCL-branded TV increased by 10.2% YoY, ranking among the top two in the PRC market^[4]. The proportion of large-screen TV shipment continues to increase. The shipment of 65-inch and above TCL TV rose by 11.3% YoY, with the corresponding shipment proportion up by 3.9 percentage points to 55.4%. The shipment of 75-inch and above TCL TV grew by 13.2% YoY, with the corresponding shipment proportion rising by 3.1 percentage points to 36.3%. Benefiting from the "trade-in for new" policy, consumer vitality has been further stimulated. Shipment of TCL Mini LED TV surged by 154.2% YoY, with its shipment proportion climbing 12.7 percentage points to 20.9%. During the 618-shopping festival, the Company's Mini LED TV retail sales volume surpassed 270,000 sets across all channels, ranking the first in the industry^[5].

Looking ahead, TCL Electronics will remain committed to its strategic pillars of "Lead with Brand Value, Excel in Global Efficiency, Drive with Technology, Thrive on Global Vitality". Anchored in delivering exceptional consumer value, the Company will stay the course on its mid-to-high-end development roadmap, continuously refine its product portfolio while intensifying investment in technological advancement and innovation reserves. The Company will further deepen its regional positioning strategies and advance its global-localisation agenda, leveraging stronger market competitiveness and brand momentum to accelerate resolutely towards a global industry leader.

About TCL Electronics

TCL Electronics Holdings Limited (01070.HK, incorporated in the Cayman Islands with limited liability) was listed on the mainboard of the Hong Kong Stock Exchange in November 1999. It is engaged in display business, innovative business and internet business. TCL Electronics actively transforms and innovates under the strategy of "Lead with Brand Value, Excel in Global Efficiency, Drive with Technology, Thrive on Global Vitality". Focusing on the mid-to-high-end markets around the world, the Company strives to consolidate the "Intelligent IoT Ecosystem" strategy and is committed to providing users with an all-scenario smart and healthy life while developing into a world-leading smart technology company. TCL Electronics is part of the Shenzhen-Hong Kong Stock Connect programme and is included in the Hang Seng Stock Connect Hong Kong Index, the Hang Seng Composite MidCap & SmallCap Index and the Hang Seng Corporate Sustainability Benchmark Index. Besides, it has received Hang Seng Index's ESG rating of A for consecutive years since 2018.

For more information, please visit the investor relations web page of TCL Electronics at http://electronics.tcl.com.