Rumors of TCL Electronics withdrawing from the US TV market: Temporary shortage of products, not removed from shelves

TCL, China's largest TV manufacturer, has recently withdrawn its products from major U.S. stores, and Samsung Electronics and LG Electronics are expected to benefit from this. According to reports and analysis, 40% of TCL's total TV sales are contributed by the U.S. market. If it withdraws from the U.S. market, TCL's business will suffer a major setback. This move will also have a significant adverse impact on the company's research and development.

On January 12, TCL Electronics issued a statement saying that the report by South Korean media Money Today that TCL TV was withdrawing from the US TV market was false. TCL solemnly stated that it has no plans to withdraw from North America or other markets, and its business development in North America is proceeding as planned.

TCL Electronics emphasized that TCL brand products are in short supply in major retail channels in the North American market. At present, the sales of some specific categories of products have exceeded the company's expectations, resulting in temporary shortages in a small number of offline stores in North America, but there is absolutely no delisting.

TCL Electronics said that the company has been developing in the North American market for many years. Its business development in North America is currently proceeding in an orderly manner. Its business strategy for the North American market will remain unchanged and will be further strengthened in the future. TCL released a series of new products at the ongoing 2021 International Consumer Electronics Show (2021 CES), including industry-leading Mini LED display technology, TVs and 5G mobile phones.

TCL Electronics said that in the first three quarters of 2020, the company's sales in the North American market increased by 24.8% year-on-year, and its market share in the United States remained the second; TCL brand TV global sales market share increased by 2.7 percentage points year-on-year to 11.3%, ranking among the top three in the world. In the future, the company will gradually introduce more products to the North American market as planned, and further increase its market share and brand influence in North America.

In response to foreign media reports on whether TCL products are being gradually withdrawn from U.S. hypermarkets, a TCL official said that the core reason is the increase in panel prices and that current stocks are insufficient.