TCL TECH.(SZ:000100) 3 6 Ke·2025-11-22 14:19Core Viewpoint - TCL has successfully positioned itself as a leader in the display industry by focusing on Mini LED technology, diverging from the industry's trend towards OLED, and has developed a flagship product, the X11L SQD-Mini LED, which showcases significant technological advancements [2][4][42]. Group 1: TCL's Strategic Decision - In contrast to the industry's enthusiasm for OLED, TCL chose to deepen its investment in Mini LED technology, believing it to be superior in terms of technical limits, cost control, and overall performance [4][11]. - The decision to pursue Mini LED was made in 2017, amidst a strong industry focus on OLED, marking a significant divergence from prevailing trends [8][14]. - TCL's commitment to Mini LED involved a long-term exploration of technology, requiring collaboration with the entire supply chain to develop from scratch [5][12]. Group 2: Technological Advancements - TCL's Mini LED technology aims to achieve perfect black levels and infinite contrast ratios, which are traditionally associated with OLED, while maintaining the cost and longevity advantages of LCD [11][17]. - The X11L SQD-Mini LED features 20,736 backlight zones, setting a new industry standard for backlight partitioning and significantly enhancing contrast and brightness [21][42]. - TCL has set an ambitious target of achieving 10,000 nits of peak brightness, which surpasses current flagship mobile devices and aims to deliver an unparalleled viewing experience [23][25]. Group 3: Industry Impact - TCL's advancements in Mini LED technology have positioned it as a leader in the global market, with projections indicating it will be the top seller of Mini LED TVs in 2024 [21][22]. - The successful launch of the X11L SQD-Mini LED signifies a shift in the display technology landscape, marking TCL's transition from a follower to a leader in the high-end television market [42][43]. - The company's journey reflects a broader narrative of the Chinese display industry evolving from dependency on foreign technology to establishing its own technological pathways and innovations [43].