Luotu Technology: Q1 China’s smart box online sales fell 39% year-on-year, with Tencent, Tmall Magic Box, and Xiaomi as the top three

News from this site on May 6, according to the latest "China Smart Box Online Retail Market Monthly Tracking" report released by Luotu Technology: In the first quarter of 2024, The retail volume of China's smart box online market was 385,000 units, a year-on-year decrease of 29.0%; retail sales were 70 million yuan, a year-on-year decrease of 35.8%; the average price dropped another 20 yuan to 187 yuan.

▲ Source: Luotu Technology official account, the same below

Luotu Technology data shows, 2024 In the first quarter, Tencent occupied the top spot in the online market with a 24.5% share, an increase of 1.5 percentage points from the same period last year. Tmall Magic Box ranked second in the online market, with a share of 15.3%, an increase of 3.4 percentage points from the same period last year. Xiaomi holds the third position in the online market with a 12.6% share.

Luotu Technology predicts that in the first half of 2024, the online market size will be only 700,000 units, a year-on-year decrease of 24.7%.

The agency analyzed that

The only way for box manufacturers to break out is to expand functions and application scenarios, and they need to bring their own super application software to win the independence of individual box hardware.

On January 23, 2024, the State Administration of Radio and Television, together with the Ministry of Industry and Information Technology, the Ministry of Culture and Tourism, the State Administration for Market Regulation, the Central Government The China Radio and Television Station, the China Consumers Association and other departments held a phased summary and deployment meeting to deal with the complicated charging and operation of TV "matryoshka dolls".

This site noticed that two of them are directly related to the smart box hardware:

The first is to gradually realize watching TV with a remote control. For existing remote controls, we will help viewers use the infrared remote control learning function through extensive publicity or door-to-door services, and initially realize "watching live broadcasts with one remote control"; promote the use of multiple remote control methods such as voice and mobile phones. For incremental remote controls, through the formulation of unified standards and specifications, new remote controls are developed and launched to achieve the goal of watching TV with one remote control.

Another item is to actively promote the integration of TV set-top boxes. Organize the development, application and industrialization promotion of plug-in set-top box solutions, and at the same time actively research and promote the integration of fully built-in TV set-top boxes, accelerate the formulation of plans, standards, and specifications, and ultimately achieve the goal of integration.

Reference

##Quarterly Report | Q1 China’s smart box online market sales fell 39% year-on-year in 2023, less than half of the same period in 2022

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