Technological innovation opens up a new blue ocean in consumer electronics

2024-02-26

The consumer electronics industry, which has become increasingly competitive, is exploring more new blue oceans in technological innovation. Faced with industry challenges such as saturated demand and declining shipment volume, smartphone and LED display companies are constantly innovating product types and expanding application scenarios. While enriching consumer choices, they are exploring more industry opportunities and striving to move towards the high-end of the value chain. Starting from this issue's focus on the consumer electronics industry, Economic Reference Daily · High end Intelligent Manufacturing will successively launch a series of special reports on "Exploring New Quality Productivity of Industries", focusing on the practice of promoting industrial innovation through technological innovation in various industries, exploring how to build new competitive advantages and win development initiative through industrial upgrading. Stay tuned. From the huge viewing screens of the famous baseball team Hokkaido Japan Ham Fighters at their home stadium to the popular 3D animations of naked eyes on the exterior walls of buildings located at the famous "crossroads" of Shibuya and Shinjuku in Tokyo, more and more Japanese companies are adopting LED displays from China. According to market institutions, Chinese LED display application products account for over 85% of the global market share. In recent years, with the increasing competition in the domestic market, leading Chinese LED display companies such as Liade, Lianjian Optoelectronics, and Alto Electronics have turned their attention to overseas markets, seeking broader development space. Japan is one of the important target markets for these enterprises. Market share is rapidly increasing. According to industry insiders, there are currently about 20-30 Chinese LED display screen companies operating in the Japanese market, and many small and medium-sized LED display screen manufacturers are selling products to Japan through agents. The share of Chinese companies in the Japanese market is rapidly increasing. Analyzing the financial reports of leading enterprises also reveals that the proportion of overseas markets, including the Japanese market, in the overall business of the enterprise is increasingly expanding. In 2022, Liyade, which holds a leading position in the industry in terms of revenue scale, achieved overseas revenue of 2.632 billion yuan, a year-on-year increase of 25.63%. The proportion of overseas revenue through intelligent display increased from 30.36% to 37.80%. As a major exporter of LED display screens, Abison's overseas market is its business focus. In 2022, there was strong demand for overseas LED display screens, and the company's overseas revenue reached 1.761 billion yuan, a year-on-year increase of about 75.82%, accounting for 62.95% of the total revenue. This is one of the important factors for Abison to achieve dual growth in revenue and net profit. In the first half of 2023, overseas business grew faster, with an increase of 119% in the Asian market (both within and outside of China). It is understood that Lianjian Optoelectronics became an exhibitor of InterBEE (International Broadcasting and Television Equipment Exhibition) in Japan for the first time in 2019, and officially established a Japanese subsidiary in 2022. Ye Dunchao, Deputy General Manager of Lianjian Optoelectronics Overseas Sales Center, introduced that in recent years, Lianjian Optoelectronics has seen an average annual revenue growth of over 30% in the Japanese market, with the Japanese business accounting for 15% to 20% of its overseas business. He bluntly stated that the main competitors in the global LED display screen market are Chinese companies. In addition, Alto Electronics and Zhouming Technology have subsidiaries in Japan, and Lehman Optoelectronics has also set up an office in Japan in 2023 to further enhance its capabilities

Edit:Hou Wenzhe    Responsible editor:WeiZe

Source:Economic Information Daily

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