Huan Qiu Shi Bao·2026-01-22 22:35Core Viewpoint - Sony's decision to spin off its television business and form a joint venture with China's TCL reflects a significant structural reorganization in the global television industry, driven by increasing competition and changing consumer demands for larger, higher-resolution screens [1][2][7]. Group 1: Industry Dynamics - The global television market is not declining; instead, it is growing in the large-screen and high-end segments, with a shift in competition rules from technology differentiation to manufacturing scale and cost structure [4][8]. - Japanese brands are losing their competitive edge in the television industry, with companies like Toshiba and Sharp either selling their TV businesses or significantly downsizing their operations [2][6]. - The joint venture between Sony and TCL is seen as a rational choice, allowing both companies to leverage their strengths—Sony's expertise in high-value products and TCL's efficiency and scale [4][7]. Group 2: Market Positioning - Chinese television brands are rapidly gaining market share, with TCL's global TV shipments reaching 20.8 million units in the first three quarters of 2025, marking a 4.1% year-on-year increase [10]. - By 2024, Chinese brands are expected to surpass Korean brands in global TV shipments, with TCL, Hisense, and Xiaomi collectively holding a market share of 31.8% compared to 28.5% for Samsung and LG [8]. - The shift in the global television supply chain is evident, with Chinese manufacturers dominating the LCD panel market, while Japanese and Korean companies are retreating from this segment [11]. Group 3: Competitive Landscape - The decline of Japanese brands is attributed to multiple factors, including slow progress in supply chain advancements and inadequate localization strategies [5][6]. - Despite the rise of Chinese brands, Samsung still maintains a significant lead in brand reputation and high-end market segments, indicating that the competition is ongoing and evolving [12].