News information

Article source: Zhongguancun online Author: Zhao Wuprovince article has been deleted

Various data show that the recovery of the consumer electronics industry is clear.

On May 6, Canalys released data showing that in the first quarter of 2024, global tablet shipments reached 33.7 million units, an increase of 1% year-on-year. Canalys said that thanks to the recovery of consumer spending and the stability of the global economy, this is the first growth in the tablet market after several consecutive quarters of decline.

As one of the three major components of the consumer electronics industry, the recovery of tablet PC growth further released the signal that the consumer electronics market is developing towards a good trend.

At present, in the context of AI technology restructuring thousands of industries, AI empower consumer electronics, promote the wave of AI terminal change, including tablet computers, consumer electronics products ushered in a new round of technological innovation cycle, driving the consumer electronics season to accelerate the arrival of consumer electronics manufacturers also ushered in a new round of growth opportunities.

The consumer electronics industry has fully recovered, and the profitability of the industry has significantly improved

Tablet, mobile phone, PC and other consumer electronics products after a long period of operating pressure, the inventory of the industrial chain is coming to an end, the growth rate of shipments is accelerating, and the industry as a whole is developing towards a good trend.

From the data performance point of view, in the first quarter of this year, various segments of consumer electronics, including tablets, ushered in a good start. According to Canalys data, the global mobile phone market ushered in double-digit growth, with a 10% growth rate of 296.2 million units shipped; PC shipments totaled 57.2 million units, an increase of 3.2 percent. With the growth of mobile phones, computers, tablets and other products, the global consumer electronics industry is entering the recovery growth channel.

From the demand side, the growth momentum of the consumer electronics industry mainly comes from the replacement demand of consumers. Boc Securities said that the current consumer electronics industry in the "passive replacement" demand and "active replacement" demand under the dual stimulus, the industry boom continues to pick up.

Among them, "passive replacement" is mainly based on consumers' natural replacement needs. At present, smart phones and PCS are approaching the critical point of replacement cycle. Based on the centralized procurement of electronic products brought by home and office in the previous three years, mobile phones, PCS and other products will gradually enter the natural replacement cycle this year and next year, especially the replacement cycle of PC products is about 4-5 years. This new rotation is mainly due to the release of demand corresponding to the increase in PC sales at home and office around 2020.

The demand for "active replacement" is mainly stimulated by AI mobile phones, AIPC and other products. In the field of consumer electronics, AI-driven product innovation has become the consensus of industry development, and AI terminals such as AI mobile phones and AIPC are accelerating their landing, which is expected to bring incremental development space to the market. According to Counterpoint, AI mobile phone shipments will account for 11% of the total mobile phone shipments this year, and the figure will reach 43% by 2027, and AI mobile phones will gradually become mainstream models. In terms of AIPC, Canalys predicts that the penetration rate of AIPC is expected to reach 18% this year, and then it will gradually increase, and the penetration rate will reach 40% by 2025.

From the perspective of manufacturers, the consumer electronics industry has accelerated its recovery, driving the profitability of the consumer electronics industry to improve significantly. According to Sinolink Securities, the revenue of the consumer electronics industry in 2024Q1 increased by 10.51% year-on-year, and net profit increased significantly by 40.74% year-on-year. In terms of profitability, the gross profit margin of the consumer electronics industry in 2024Q1 was 12.2%, an increase of 1.2%, and the net profit margin was 4.1%, an increase of 1%.

Overall, the consumer electronics industry has entered a cycle recovery stage, superposition AI+ terminal innovation, and the overall market has picked up, driving the growth of the industry's operating fundamentals, and accelerating the improvement of profitability.