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Smart Box Market Competition: Online Sales in China Increase by 1.1%, Xiaomi Enters TOP3

Recently, RUNTO released the ‘Monthly Online Retail Data of Smart Devices in China’s Living Room’ July report, highlighting the ongoing smart box market competition. According to online monitoring data from RUNTO, China’s smart box online sales reached 107,000 units in July 2024, marking a 1.1% year-on-year increase compared to last year. Despite a year-on-year decrease of 6.0% in sales value to 20 million yuan, this data marks the first time this year that the smart box market competition has led to positive sales growth.

Xiaomi box
Xiaomi box

Market analysis shows that the growth in sales is mainly due to the strong performance of leading brands, especially the top brands Tencent, Tmall Magic Box, and Xiaomi. Their combined market share has reached 53.4%, an increase from the same period last year. An increase of 2.9 percentage points.

In the competition in the smart box market, the advantages of leading brands have become increasingly prominent. These brands have successfully attracted more consumers with their strong brand influence, rich content ecosystem, and continuous technological innovation.

Although the performance of leading brands is eye-catching, the competition in the market is still fierce. In the second half of the TOP list, the competition between small and medium-sized brands is particularly obvious. The rankings of brands ranked 5th to 10th have all changed compared with June, showing the dynamics and uncertainty of the market. Among them, the Infini brand showed a high year-on-year growth rate this month. Analysts believe this may be related to its recent product updates and marketing strategies.

CNMO believes that these changes in the smart box market reflect the gradual growth of consumer demand for smart home products, and also show the strategic adjustments between brands to compete for market share.

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