Core Insights - Global TV shipments are projected to fall below 50 million units for the first time in history in Q3 2025, with an estimated 49.75 million units, reflecting a 4.9% year-over-year decline and a 6% quarter-over-quarter increase [1] - The decline is attributed to extended consumer purchase cycles, changes in international circumstances affecting demand, and the diminishing effects of subsidy policies in the Chinese market [1] - Despite the overall decline, a seasonal sales surge is expected in Q4 due to promotional activities in Europe and North America, as well as China's Double 11 and Double 12 shopping events, leading to an estimated 7.3% quarter-over-quarter increase in global shipments to 53.21 million units [1] Market Share and Brand Performance - The top five brands in Q3 2025 by shipment volume are Samsung, Hisense, TCL, LGE, and Xiaomi, collectively holding a market share of 64.3% [4] - Hisense regained its position as the second-largest global TV brand in Q3 2025, with shipments reaching 7.66 million units, a 9.7% quarter-over-quarter increase, and a market share of 15.4%, marking a record high for the brand [4] Size Segment Trends - The penetration rate of large-sized TVs (60 inches and above) has reached 28.2% for the first time, driven by demand in the Chinese market [5] - Samsung and Hisense lead the 65-inch and 75-inch segments with market shares of 26% and 22%, respectively, while Hisense and TCL dominate the 85/86-inch segment, each capturing nearly a quarter of the market [5] - TCL has emerged as the leader in the 98-inch market, while Hisense holds nearly half of the 100-inch market share [5] Future Market Dynamics - The growth momentum for large-sized TVs is expected to slow down as the effects of subsidy policies in China wane, with 65-inch shipments stagnating and 75-inch growth rates dropping to 13%, half of last year's figures [6] - The focus of brands is shifting from merely increasing size to upgrading product specifications, emphasizing differentiation through advanced features like RGB Mini LED, high refresh rates, and AI integration [6]

Core Insights - The global TV shipment volume in Q3 2025 was approximately 49.75 million units, marking a 6% increase quarter-over-quarter but a 4.9% decrease year-over-year, the first time it has fallen below 50 million units in the same period historically [2] - The decline is attributed to extended consumer purchase cycles, changes in international circumstances affecting demand, and the diminishing effects of subsidy policies in the Chinese market [2] - Anticipated promotions in the fourth quarter in Europe and the U.S., along with China's Double 11 and Double 12 shopping events, are expected to boost shipments to approximately 53.21 million units, a 7.3% increase from Q3 [2] - The total global TV shipment for 2025 is projected to be 195.59 million units, reflecting a year-over-year decrease of 1.2% [2] Brand Performance - The top five brands in Q3 2025 by shipment volume were Samsung, Hisense, TCL, LGE, and Xiaomi, collectively holding a market share of 64.3% [6] - Hisense regained the position of the second-largest global TV manufacturer with a shipment of 7.66 million units in Q3, a 9.7% increase quarter-over-quarter, raising its market share to 15.4%, a record high for the same period [6] Size Segment Trends - The penetration rate of large-sized TVs (60 inches and above) reached 28.2% for the first time, driven by increasing demand and subsidy policies in China [7] - Samsung and Hisense led the 65-inch and 75-inch markets with market shares of 26% and 22%, respectively [7] - TCL dominated the 98-inch market, while Hisense maintained a near 50% market share in the 100-inch segment [7] - Despite a decline in overall shipment volumes for smaller-sized TVs, Samsung retains a stable advantage in the 60-inch and above segment with a market share of 22% [7] Market Outlook - As the effects of subsidy policies in the Chinese market wane, growth in large-sized TV shipments is expected to slow significantly, with 65-inch shipments nearly stagnating and 75-inch growth rates dropping to 13%, half of the previous year's figures [8] - The focus of brands is shifting from merely increasing size to upgrading product specifications, emphasizing differentiation through advanced features such as RGB Mini LED, high refresh rates, and AI integration [8]

Core Viewpoint - Hisense has launched its new RGB Mini LED flagship TVs, the U7S Pro and E8S Pro, along with the high-end E7Q series, showcasing advancements in display technology and sound quality [2][5][14]. Group 1: E8S Pro RGB Mini LED TV - The E8S Pro TV is designed for audio and gaming, featuring a maximum refresh rate of 330Hz and an RGB Mini LED panel with 9360 local dimming zones [4][5]. - It includes the "SUPER Movie Mode" for 4K viewing experience with a transmission bitrate of up to 160Mbps, and a native refresh rate of 170Hz [5]. - The sound system is a 4.2.2 configuration with a maximum power output of 270W, tuned in collaboration with Devialet [5][10]. - Pre-orders for the E8S Pro have started on JD.com, with sales beginning on October 14 [6]. Group 2: U7S Pro RGB Mini LED TV - The U7S Pro features the Ultra Black Crystal screen and the AI picture quality chip H7, achieving a peak brightness of 4700 nits and 5760 color zones [9]. - It boasts a unique dual-layer anti-reflective technology with a reflectivity of 1.28%, enhancing clarity during daytime viewing [9]. - The U7S Pro is equipped with four HDMI 2.1 ports and has a memory/storage configuration of 4GB + 128GB, supporting full 4K UI and director mode [11]. - Pricing for the U7S Pro starts at 15,999 yuan for the 75-inch model, with higher prices for larger sizes [11]. Group 3: E7Q Mini LED TV - The E7Q TV features a U+ Mini LED panel with 4224 local dimming zones and a peak brightness of 7000 nits, supporting XDR Pro features [16]. - It includes the AI picture quality chip H6, enhancing light control precision by 16 times [16]. - The E7Q is available for pre-order with prices ranging from 7,999 yuan for the 65-inch model to 18,999 yuan for the 100-inch model [16]. Group 4: Competitive Landscape - Other brands such as TCL and Samsung have also launched RGB Mini LED backlight TV product lines this year, indicating a competitive market landscape [12].