Skyworth expanding into high-end Mini-LED segment

Chinese television giant Skyworth is expanding in 8K, Mini-LED and eSports to diversify its business and expand its product lines.

The company is speeding up global expansion, as it posted almost 70 percent revenue growth in overseas markets in the first half of 2021.

Skyworth, along with partners like BOE and Dolby, launched various products, such as flagship OLED model S82 priced at 11,999 yuan (US$1,874), a Mini-LED TV Q72 and eSports monitor G90.

"People in the digital age need hi-tech displays and new category products with consumption upgrades," Wang Zhiguo, Skyworth's chairman and president, said during a conference in Beijing.

The demand for 8K, an ultra-high definition display technology, is surging with technology upgrades in smartphone sectors.

The latest flagship models from Apple and Huawei enable people to shoot high-definition and "cinematic-level" images and videos. They need big screens to share and enjoy, Wang said.

Skyworth will bet on Mini-LED technology, offering backlighting and peak brightness accuracy. It has launched new products and invested 6.5 billion yuan to build a Mini-Led industry base.

As a high-end display technology, global Mini-LED TV sales will reach 4.4 million units in 2021 and 35.5 million units in 2025, according to researcher TrendForce.

In the first half of this year, Skyworth overseas revenue reached 4.76 billion yuan, 68.4 percent growth year on year.

Western consumers like high-end models with new technologies like OLED and Mini-LED, Wang said.