Core Insights - The Chinese smart internet TV industry has entered a mature development stage, with a projected revenue of 53.78 billion yuan in 2024, representing a year-on-year growth of 10.11% [1][14] - Continuous innovation in display technologies and smart features, such as OLED, Mini LED, and voice assistants, has significantly enhanced product value [1][14] - Increasing consumer demand for high-quality and diverse entertainment content has attracted more users to smart internet TVs [1][14] - Government policies have been introduced to encourage the development of smart TVs and smart home products, promoting high-quality industry growth [1][14] Industry Overview - Smart internet TV, also known as OTT TV, integrates internet technology with traditional TV functions, allowing users to access a vast array of online video resources [2] - The industry has evolved through four main stages: exploration (pre-2009), development (2010-2012), acceleration (2013-2016), and standardization (2017-present) [4][5] Industry Development History - The exploration phase saw initial technological research and market surveys by appliance manufacturers [4] - The development phase marked the official entry of smart internet TVs into rapid growth, with the establishment of licensing systems [4] - The acceleration phase involved close collaboration among internet companies, licensees, and terminal manufacturers, leading to explosive growth [4] - The current standardization phase focuses on regulatory improvements and technological innovation to enhance user experience [5][6] Industry Value Chain - The upstream of the smart internet TV industry includes raw materials, components, and technology, while the midstream involves production and manufacturing [8] - The downstream consists of consumers who utilize these smart internet TVs [8] Market Trends - The number of broadband internet users in China is projected to reach 670 million by 2024, with a significant increase in high-speed users [10] - The digital TV user base is expected to grow to 201 million by 2024, indicating a healthy market for smart internet TVs [12] Key Companies - Major players in the industry include TCL Technology, Hisense, Haier, Skyworth, and Xiaomi, with traditional brands competing alongside emerging tech brands [16] - Hisense's revenue is projected to reach 58.53 billion yuan in 2024, with a net profit of 2.25 billion yuan [18] - Skyworth's total revenue is expected to be 65.01 billion yuan in 2024, despite a decline in profit margins [20] Future Development Trends - Large-size and ultra-high-definition TVs are anticipated to dominate the market, driven by consumer demand for enhanced viewing experiences [22] - Smart TVs will evolve into control centers for smart home ecosystems, integrating with various smart devices [23] - The industry will continue to focus on technological innovation and the integration of content services, moving towards a model that combines hardware, content, and services [24]