TCL responds to its withdrawal from the US market: temporarily out of stock but no delisting

Not long ago, South Korea’s Money today website reported that TCL TVs are being taken off the shelves in major US stores. Once TCL withdraws from the country’s market, the company will be hit hard because the US market contributes 40% of TCL TV’s total sales. And this afternoon, TCL Electronics issued a statement stating that this news is not true, and the company has not withdrawn from North America or other markets; the current sales of some products have exceeded the company’s expectations, causing a small number of offline stores in North America to be temporarily out of stock, but there is no next Shelf situation.

TCL

From the perspective of sales of TCL products, the company’s sales in the North American market in the first three quarters of 2020 increased by 24.8% year-on-year, and its market share in the United States ranked second; the global sales market share of TCL brand TVs increased year-on-year 2.7 percentage points to 11.3%, ranking firmly among the top three in the world. In the future, TCL will continue to introduce more products to the North American market as planned to further increase its market share and brand influence in the North American market.

In other respects, TCL will start construction of the 8.5-generation OLED (organic light-emitting diode) production line in Guangzhou this year; CSOT, a subsidiary of TCL, and JOLED of Japan are cooperating in the field of OLED to catch up with South Korean companies. Currently, only LG is the only company producing large-scale TV OLED panels in the world, and Samsung plans to mass-produce it in the first half of this year. If TCL can build its own OLED production line as soon as possible, it will enhance the competitiveness of its own TV products.