Group 1 - Apple has announced participation in the national subsidy program for trade-in products, offering up to 2000 RMB discount, applicable only in Apple Store online (Beijing delivery address) and retail stores (Shanghai) [2] - This marks the first time Apple’s direct channels in China are involved in the national subsidy program, which has expanded from home appliances to include mobile and digital products by 2025 [2] - The continuation of the subsidy program in Beijing and Shanghai is attributed to effective fund management, indicating a consistent approach towards both domestic and foreign brands [2] Group 2 - In the second quarter, the national subsidy funds were consumed quickly in some regions, leading to a pause or limitation in the program in mid to late June [3] - The central government has allocated 138 billion RMB for the second half of the year, with funds to be distributed in July and October [3] - Apple’s direct participation in the subsidy program is expected to enhance service experience, allowing consumers to enjoy both subsidies and official services directly, thus improving brand perception and increasing market competition [3]

Core Viewpoint - The national subsidy program for replacing old appliances has been temporarily suspended in several regions, impacting consumer purchasing behavior during the ongoing 618 shopping festival [1][5][20]. Group 1: National Subsidy Status - As of June 12, regions such as Jiangsu, Hubei, Chongqing, and Guangdong have paused or limited the national subsidy for old-for-new appliance exchanges [1][4]. - Many consumers were surprised by the sudden increase in prices due to the suspension of subsidies, leading to hesitation in making purchases [4][5]. - The Jiangsu Provincial Department of Commerce confirmed that the subsidy program will continue until the end of the year but will implement quota management [4][20]. Group 2: Consumer Reactions - Consumers preparing to make significant purchases expressed frustration over the sudden changes, with some reconsidering their decisions due to the loss of subsidies [4][5]. - A consumer in Jiangsu noted that the subsidy was more beneficial than the discounts offered by retailers during the 618 event [4]. - Another consumer, who had already paid a deposit for home customization, faced a dilemma due to the subsidy suspension, which could lead to financial losses [4]. Group 3: Regional Variations - In Shanghai, the national subsidy remains available, while other regions have shifted to a limited coupon system, making it difficult for consumers to access subsidies [6][9]. - A report indicated that only 10 out of 25 regions had normal subsidy distribution, with many areas experiencing either suspension or limited access [6][7]. - The subsidy situation varies significantly across regions, with some areas like Beijing still offering online subsidies while offline stores have restricted access [9][10]. Group 4: Future Outlook - The second phase of the national subsidy program is expected to be announced soon, with adjustments to the subsidy standards and application processes [20][21]. - Analysts predict that the consumption of subsidy funds will continue to rise, with estimates suggesting that 70% of the allocated budget will be utilized by mid-year [21][22]. - The shift to a quota management system is seen as a necessary adjustment to prevent fund misuse and to promote rational competition among businesses [21][22].

Core Viewpoint - The article discusses the intense price competition in the Chinese television market during the "6.18" shopping festival, highlighting the impact of government subsidies and consumer preferences for larger, high-efficiency TVs. The competition is characterized by significant price drops, with some products being sold at prices comparable to their panel costs, leading to concerns about profit margins for manufacturers [1][2][4][5]. Group 1: Market Trends and Sales Performance - The average price of televisions during the "6.18" festival has decreased by over 10% compared to last year's "Double Eleven" sales, particularly for large-sized TVs [2][4]. - Sales of large-screen TVs (75 inches and above) have surged, with TCL, Hisense, and Xiaomi leading in sales rankings [1]. - The overall sales revenue in the domestic TV market is expected to grow by approximately 15% year-on-year during "6.18" due to the influence of government subsidies [6]. Group 2: Consumer Preferences and Product Trends - Consumers are increasingly opting for high-quality, larger TVs, with Mini LED technology gaining popularity [8][10]. - The market is seeing a shift towards energy-efficient and high-end products, with over 90% of sales attributed to high-efficiency TVs [8]. - The promotion period for "6.18" has been extended from five weeks to six weeks, indicating a strategic shift by e-commerce platforms to capture more sales [5]. Group 3: Competitive Strategies of Major Brands - Major brands like TCL and Hisense are focusing on product differentiation and technological innovation rather than solely competing on price [8][10]. - TCL has introduced a diverse range of products across different price segments, leveraging both government and corporate subsidies to boost sales [8]. - Hisense is emphasizing smart, large-screen, and energy-efficient TVs, aiming to attract consumers looking for value [9][10]. Group 4: Supply Chain and Panel Pricing - The price competition in the TV market is supported by stable panel prices, with manufacturers like BOE and TCL focusing on high-value products [13]. - Liquid crystal panel prices have remained stable, but there are concerns that if TV sales do not meet expectations, it could lead to adjustments in panel procurement and pricing strategies [13][14]. - Panel manufacturers are advised to maintain rational production levels and avoid excessive price competition to stimulate demand for larger TVs [14].