Skyworth

Skyworth is located in Shenzhen. The company is engaged in the production and sale of televisions, large and small household appliances, digital set-top boxes for the smart home, commercial liquid crystal displays and production equipment.

Aktivs

As of August 2024, Skyworth shares are traded on the Hong Kong Stock Exchange. Skyworth Group owns two listed companies: Skyworth Group and Skyworth Digital.

History

2024

Opening a representative office and starting sales in Russia

The global electronics brand Skyworth on August 20, 2024 announced TAdviser about the opening of an official representative office in the Russian Federation and the launch of sales of a line of television equipment in large Russian networks and marketplaces.

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Skyworth

In particular, TVs are already presented on the shelves of Russian trading platforms Citilink, Positronika, HolodilniK.ru, on the marketplaces Ozon, Wildberries, Yandex Market, Megamarket and in the stores of regional players. The company is also already negotiating with the M.Video-Eldorado. In 2025, the company plans to occupy up to 2% of the television market in Russia, supplying about 200 thousand TVs.

"Skyworth produces a wide range of electronic and household appliances, but so far only TVs are presented on the Russian market. The range includes TVs of various series, types, sizes and price range - mid-range and premium products from 23,990 to 399,990 rubles. Already installed on all models. Next RuStore year, we plan that the brand's household appliances will become fully available to Russian consumers, "Ilya Mazurenko, CEO of Skyworth's official representative office in the Russian Federation, shared the company's plans.

The brand strategy in Russia consists in limited distribution of original models directly from the manufacturer to a number of reliable partners. Top manager of the chain of electronics stores Citilink confirmed the start of sales of Skyworth TVs. According to Yegor Panin, head of the Consumer Electronics procurement group at Citylink and Merlion, a wide range of TVs is available in the Citylink online store under the Skyworth brand. At the same time, the network plans to actively increase the volume of purchases of Skyworth brand equipment.

The Skyworth television line for the Russian market is produced at the facilities of the Belarusian holding Horizon. This reduces the costs of manufacturing and logistics of products and, as a result, keeps available prices for finished products for the Russian consumer.

"Skyworth has been using the plant's facilities to produce electronics under its own brand for several years. The production of TVs is carried out from original components under the strict control of the customer and in compliance with all production standards of the company. The volume of potential TV production will be about 200 thousand units for 2025, "said Evgeny Shandabylo, director of the Horizon plant.

As of August 2024, Skyworth Group has 17 own production sites. Of these, 10 are in China, another 7 in other countries - Germany, the USA, Indonesia, a plant in India, South Africa, Mexico. As well as 11 own development centers.

The company's portfolio includes brands such as the German METZ, the SKYWORTH brand, as well as the young Coocaa brand. The company's turnover in 2023 amounted to $9.49 billion. Skyworth electronic components are used for the production of TVs by some Russian and foreign brands.

Entering the Russian market

On February 7, 2024, it became known about the official entry of the Chinese manufacturer of TVs and household appliances Skyworth into the Russian market. In particular, the company's products will be sold in Holodilnik.ru stores, said Alexei Pogudalov, commercial director of the Russian retailer.

According to him, Skyworth TVs sold on the Russian market will be produced at the Belarusian Horizon plant. The possibility of placing assembly and large household appliances at the factories of brands that have left the Russian Federation is also being considered, Pogudalov said in a conversation with Kommersant. Skyworth confirmed to the newspaper the start of contract assembly of televisions on the Horizon, but refrained from more informative comments.

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Skyworth

However, experts interviewed by the publication are skeptical about the prospects of the Skyworth trademark in the Russian and Belarusian markets. Dmitry Shashkin, general director of the Russian household appliance brand Kuppersberg, believes that Skyworth may face competition with Chinese home appliance vendors already in Russia.

In the absence of local production, the prospect of rapid growth looks dubious, "said Shashkin.

According to a Kommersant source in retail, Skyworth equipment "risks failure in the Russian market due to a management strategy." The fact is that the current strategy of local representatives of the company consists more in organizing wholesale supplies of equipment in the network for sale at low prices than in organizing marketing activity in Russia, sales research, etc., the source argues.

This brings loss and reputational losses, as buyers begin to treat this technique as consumer goods, he added.[1]

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