遭遇史诗级寒冬，国产电视卖不动了？

Core Insights - The Chinese television market is experiencing a significant downturn, with major brands reporting a collective decline in shipments during the November sales period, which was expected to be strong due to the early and extended Double Eleven promotion [1][3] - The total shipment for November was approximately 3.22 million units, representing a year-on-year decrease of 15.7% [3] - The overall retail volume during the Double Eleven promotion period saw a drastic decline of 19.6%, while retail revenue plummeted by 22.1%, indicating a severe "volume and price double kill" scenario [3][5] Market Performance - The top eight television brands, including Hisense, TCL, Xiaomi, and others, accounted for over 95% of the market share, with a total shipment of about 3.08 million units, down 13.9% year-on-year [3][5] - Xiaomi's shipment was 530,000 units with a market share of 16.5%, slightly down from 17.9% in October [3] - The global television shipment for Q3 2025 was 52.5 million units, a slight decline of 0.6% year-on-year, with China's market contributing to a 12.2% drop [5] Consumer Behavior and Market Trends - The television usage rate in China has drastically decreased from 70% in 2016 to below 30% in 2022, indicating a shift in consumer behavior [6] - The complexity of operating smart TVs has increased, leading to consumer frustration, especially among older users [8] - The rise of smartphones as the primary entertainment device has diminished the necessity for large-screen televisions [8] Future Outlook - The domestic television market is under pressure, with factors such as a declining single-person household population and a downturn in the real estate market affecting demand for large appliances [9][12] - Major brands are focusing on expanding into overseas markets to compensate for domestic declines, with TCL and Hisense showing positive growth in Europe and emerging markets [14] - Simplifying smart TV operations, reducing advertisements, and enhancing content offerings could help mitigate the decline in the domestic market [14][15]