Overview of the China LED Display Industry in 2024

Posted by

On 02/18/2025

Planning Editors: Cheng Tao, Wang Xinru
Journalists: Ouyang Jing, Wang Xiaolei, Li Xiaoyan

In 2024, the domestic LED display industry faced a dynamic and changing landscape. From the beginning to the end of the year, the domestic market experienced sluggish demand, while the overseas market maintained steady growth, leading to an overall sales performance with a slower start but a stronger finish. The prosperity of markets such as cultural tourism and performances has driven the growth of the LED display industry to varying degrees. Certain niche sectors, such as LED rental displays, LED cinema screens, XR virtual studios, and sports events, have performed well. It is expected that in 2024, the sales of domestic LED display products will reach 49.5 billion yuan, a decrease of 2.56% compared to the previous year. With advancements in Mini/Micro LED technology, the customer base for LED displays is gradually shifting from the ToB and ToG markets to the ToC market, and the LED direct-view industry is set to welcome a trillion-yuan demand market.

Table of Contents

1. Global Economic Stability and Growth in 2024

On December 4, 2024, the Organization for Economic Cooperation and Development (OECD) released its Economic Outlook report, predicting a global economic growth rate of 3.2% in 2024, with stable growth rates of 3.3% in both 2025 and 2026. This represents a 0.4 percentage point increase from the 2.8% global economic growth rate in 2023. Overall, the global economy has maintained low but steady growth over the past three years, and the fundamental economic conditions remain positive.

The report also stated that, from 2025 to 2026, emerging economies in Asia will continue to be the main contributors to global economic growth, with China’s share in global trade expected to rise further.

Domestically, China’s GDP grew by 4.8% year-on-year in the first three quarters of 2024, and it is expected to see marginal improvement in the fourth quarter. The annual economic growth target of around 5% is likely to be achieved, contributing nearly 30% to global economic growth. In the medium to long term, steady growth policies continue to be released, and the reforms from the Third Plenary Session are being progressively implemented, ensuring the continued positive trend of China’s economic recovery.

It is important to note, however, that global economic development still faces uncertainty due to factors such as global inflation and ongoing geopolitical conflicts, necessitating effective risk prevention.

2. Market Development Status of the LED Display Industry

Despite increasing competition, the LED display industry continues to show resilience, with industry professionals actively seeking opportunities amid challenges.

According to LED Screen World, the LED display industry is expected to reach a sales figure of approximately 49.5 billion yuan in 2024, representing a 2.56% year-on-year decline. While the global economy remains steady, growth has been relatively slow. Domestic government procurement projects have decreased, and consumer spending has downgraded, resulting in reduced demand for LED displays. However, due to sustained growth in overseas markets, many companies are shifting their focus to international expansion in 2024.

From the financial reports for the first three quarters of 2024, revenue for LED display-related companies generally increased, but nearly half of the companies saw a decline in profits, especially the six major LED display companies, which reported reduced profits despite higher revenue. This trend is mainly attributed to the overall economic environment and intense competition within the industry, with many companies facing pressure due to price competition. Midstream LED packaging companies also experienced revenue growth but no increase in profits. However, upstream LED chip companies showed good performance, with both revenue and profit increases. Peripheral companies such as driver IC and control system providers saw impressive profits, despite declining revenue.

According to customs data, total LED display exports in 2022 were 11.076 billion yuan, a 37% year-on-year increase, marking the highest export value in recent years. In 2023, the export value decreased by 7.42% to 10.254 billion yuan. In the period from January to November 2024, LED display exports reached 9.442 billion yuan, and it is expected that the total export value for the year will reach 10.54 billion yuan. Export prospects for LED displays are positive, especially in regions such as Asia, Africa, and Latin America.

To capture the overseas market, companies such as Leyard, Absen, Lianjian Optoelectronics, Nanjing Lopu, and Sanan Optoelectronics have established new subsidiaries or display centers abroad. Some small and medium-sized enterprises have also actively ventured overseas and expanded their business by participating in international exhibitions.

Standard LED Displays (Channels)

With more cross-industry companies entering the market, competition in the LED display sector has intensified. Channel sales now represent an increasing proportion of total sales, and companies are investing heavily in channel construction to maintain a stable market position. Currently, LED display sales networks have expanded beyond first-tier cities into third- and fourth-tier cities, as well as international markets.

As of now, Strongly Giant Color has built a sales and service network covering provincial, municipal, and county levels, with 66 offices, over 150 provincial-level distributors, more than 300 engineering distributors, and over 30,000 brand service providers. The company has also actively expanded into the engineering sector and launched the new high-end brand “G-ART” in 2024, focusing on military displays, government and corporate projects, commercial media, and education services, providing professional smart display products and overall solutions. In order to enhance its brand image and industry influence, Strongly Giant Color partnered with “Great Nation Brands” in 2024 to pursue even higher goals.

In general, the six major LED display companies, as well as cross-industry companies, power supply, and control system providers, are placing great emphasis on channel development. For example, AOTO Electronics sponsored the “2024 National Sound and Light Video Industry Boutique Tour” and visited 16 representative cities, conducting face-to-face exchanges with customers to understand market trends and attract more partners while rapidly increasing its brand influence across the country.

COB Display Products

In 2024, COB (Chip-on-Board) display product sales have reached 3 billion yuan, accounting for about 6% of total sales. COB displays dominate the small-pitch market, with more than 50% of the P1.2 and below market share and mainstream presence in high-end commercial displays with P0.9 or lower. COB products are competitive with SMD (Surface-Mount Device) in the P1.2 and P1.5 range, and their prices are lower than SMD products below P0.9.

With the continued decrease in COB product prices, the COB market is expected to maintain a growth rate of over 30% for the next five years. By 2028, the COB display product market is expected to reach 20 billion yuan.

In competition with COB, the MIP (Mini/Micro LED Integrated Packaging) technology, which encapsulates Mini/Micro LED chips at the chip level, has been adopted by companies such as Leyard, Unilumin, AOTO, Absen, Lianjian, Strongly Giant Color, NationStar, Dongshan Precision, Kinglight, and SINYOPTO. Whether MIP will become the mainstream technology remains to be seen.

Industry experts believe that with the continuous miniaturization of LED displays, COB will eventually become the mainstream technology, but current COB technology still requires improvement, especially in the consumer electronics field, where high yield rates are essential. Once these technical challenges are overcome, COB technology for ultra-fine pitch products will quickly open up a trillion-yuan consumer market.

LED Rental Screens

In 2024, the booming cultural tourism and nighttime economy, along with the large number of performance events, has driven the development of the LED rental screen industry. Data shows that the number of domestic tourist trips in the first three quarters of the year increased by 15.3% year-over-year, while total spending by domestic tourists grew by 17.9%. The inbound tourism market also experienced significant growth, with preliminary statistics showing that inbound tourism reached 95 million visitors, a year-over-year increase of 55.4%, recovering to 93.4% of the level seen in 2019. According to data released by Daolue Industrial Research Institute, there were 1,182 concerts in the first half of 2024, nearly double the number in 2023. Lighthouse data shows that by the end of July 2024, the national performance market box office had already surpassed the total for 2023. These sectors are all major stages for LED displays!

During the landscape design process, digital design companies have integrated products such as LED tunnel screens, LED corridor screens, floor tile screens, LED sky curtains, and LED domes with AI, VR/AR technologies to create cultural IPs and immersive scenic spots. This innovation has addressed the problem of monotonous scenic area models that have persisted for years, and combined with local culture, it has created distinctive scenic spots, significantly boosting tourists’ interest in visiting various locations and helping attractions increase popularity while revitalizing the local tourism economy.

Today, the scale of concerts and other performances continues to grow, and LED displays are indispensable in supporting these events. LED displays can decorate the stage, bridge the gap between performers and the audience, enabling performers to gauge audience reactions through large screens and interact actively. The audience, in turn, can see performance details and engage interactively through the LED screen. From August 2 to 31, 2024, Adele’s concert in Munich will be unprecedented in scale, with nearly 800,000 people expected to attend. Unilumin’s LED Radio created a curved screen of more than 4,000 square meters for the event, using over 6,000 units of the Radio CB5MKII LED displays. The main screen area is 4,159.7 m² (4,760 m² if including the LED screens on the lifting platforms), with a total of 140 million pixels and a colossal scale of 176 tons, setting a Guinness World Record for the “World’s Largest Outdoor Continuous LED Display.” The stage effects were spectacular, attracting significant industry attention.

At the end of March 2024, the city of Shenzhen issued a policy to promote the high-quality development of cultural and sports entertainment industries. In April, Taiyuan City introduced “Measures to Support the Development of Concert Economy (Trial).” In May, Hainan Province announced “Measures to Further Promote Cultural, Sports, Tourism, Business, and Exhibition Integration to Expand Consumption.” In June, Xi’an City released “Management Measures for Cultural Welfare Performance Activities in Xi’an.” These favorable policies have driven the hosting of concerts and, in turn, promoted the development of the LED rental screen industry.

LED Cinema Screens

Data shows that by 2024, the number of LED cinema screens installed across the country has surpassed 100, with over 50 installations completed in that year alone. Currently, there are 90,000 cinema screens nationwide. If 20% of these are replaced with LED cinema screens, the market size could reach billions of dollars.

As of November, 13 Chinese companies have surpassed 31 LED cinema screens certified by DCI. With the upgrade of the DCI version to CTP1.4.1, the testing requirements for LED cinema screens have become more stringent, posing a new challenge for the industry. It is expected that it will take some time before new LED cinema screens pass the DCI certification.

On the technology front, the breakthrough of full-transmission sound technology has resolved the issue of sound-image inconsistency that has long plagued LED cinema screens, marking a significant technological innovation for the industry. According to reports, LOP released the world’s first full-transmission sound LED cinema screen, which was installed at the Nanjing Zijin Square. This screen features four characteristics:

Full-Transmission Sound: The display panel is ultra-thin and highly perforated, ensuring complete sound transmission from the back to the front.
Comprehensive Sound Transmission: The LED screen, spanning hundreds of square meters, has sound perforations throughout, covering all positions.
Full Absorption of Reflections: The perforated screen acts as a sound-absorbing barrier, effectively absorbing sound and noise.
Full Compatibility: It is compatible with stereo sound, X.1 channel amplification, and immersive sound formats like Dolby Atmos, DTSX, and other amplification systems.

LOP’s 20-meter full-transmission sound LED cinema screen is the world’s first to pass DTS-X immersive sound, Dolby Atmos, and SMDS China multidimensional sound certifications, offering a multi-dimensional immersive sound experience in high-quality 3D cinema sound. It was installed at the Nanjing Ziyun Amber Theater.

Additionally, Unilumin has released the UCine LED cinema projection system, with a screen size of 20.48 meters wide by 10.8 meters high. This system features a unique perforated module design, placing the main speakers behind the screen, using the LED box structure to create an acoustic cavity, ensuring sound transmission.

In May 2023, the China Film Science and Technology Research Institute (Central Propaganda Department Film Technology Quality Testing Institute) led the development of China’s first international standard for cinema technology, “Digital Cinema LED Theater Projection Technical Requirements and Measurement Methods,” which was officially approved and released by ISO. This is the first ISO international standard for digital cinema that does not follow the Hollywood system in decades. In March 2024, the China Film Science and Technology Research Institute submitted an international standard proposal for the “Optical Technical Requirements and Measurement Methods for Digital Cinema LED Theaters” to ISO/TC 36. During the 87th plenary session of ISO/TC 36, the proposal was initially recognized by international experts, marking the first step toward the development of this standard.

XR Virtual Studios

The emergence of XR virtual studios has completely changed traditional filming methods. It addresses pain points such as high costs, low efficiency, and the inability to complete complex scenes in traditional live-action and green screen shoots. XR virtual studios offer advantages like real-time capture, low costs, high efficiency, and limitless themes, making them highly promising. Currently, XR virtual studios in China are gaining global attention, receiving recognition from major film studios in Hollywood, and are gradually being adopted within the country, with vast potential for future growth.

An XR virtual studio typically consists of an LED background screen, ceiling, and floor tiles. It is primarily used in the production of films, TV shows, commercials, live broadcasts, studio productions, exhibitions, conferences, and other applications.

It is reported that Autel has installed more than 70 XR virtual studios, while Unilumin has completed over 100 projects in this area. Other companies involved in this field include Leyard, Absen, Lianjian, Visionary, and Showfox Technologies. Data suggests that the global XR virtual studio market will reach $5.1 billion by 2027.

Standards On February 4, 2024, the world’s first standard for VP (Virtual Production) LED displays, “Virtual Production (VP) LED Display System Specifications,” was officially released, filling the domestic standard gap. It specifies the basic requirements, optical performance, electrical performance, and testing methods for LED display systems used in virtual production.

LED All-in-One Display

With the maturation of COB (Chip on Board) technology and the continuous decrease in prices, LED all-in-one displays are gradually approaching the price range of LCD all-in-one displays, with substantial development expected in the large-size display sector. It is projected that 6,100 LED all-in-one units will be sold in 2024, with a growth rate of 22%.

On June 1, 2024, the national energy efficiency standard for LED all-in-one displays, “Energy Efficiency Limits and Energy Efficiency Levels for Displays” (GB 21520-2023), was officially implemented. This standard stipulates the test conditions and testing methods for energy efficiency, as well as the methods for measuring the horizontal viewing angle, native resolution, color gamut coverage, and contrast ratio for high-performance LED all-in-one displays. This fills an industry gap, and products that do not meet the Grade 3 energy efficiency standard cannot enter the market!

Currently, companies such as ViewSonic, Lehmann, and Heda have already obtained energy efficiency certification. ViewSonic became the first company to achieve this certification, with their third-generation LED all-in-one display receiving a Grade 1 energy efficiency label, setting a new industry benchmark and marking a step forward in energy-saving and emission-reduction efforts within the LED display industry.

LED for Sports Events

2024 is a big year for sports, with over 70 international sports events such as the French Olympic Games, UEFA Euro, and Copa América being held globally, showcasing Chinese LED displays in the spotlight. Sports LED displays enhance the viewing experience, deliver real-time information, and provide advertising and commercial value, and have become widely used.

LED sports displays include products like stands, scoreboards, bowl-shaped displays, floor screens, and fence screens. Although each product has different functions depending on the venue, they all work together to ensure the smooth running of sports events.

In July 2024, eSports was approved by the International Olympic Committee (IOC) and will debut as an official Olympic event, which will increase the role of LED sports displays. It is known that China has the largest number of eSports users in the world. According to the “2024 China Gaming Industry Report,” China’s eSports user base is approximately 490 million. The “2024 China eSports Industry Report” revealed that the eSports industry in China generated 12.027 billion RMB in revenue in the first half of 2024, marking a 4.43% year-on-year increase.

According to the “Electronic Sports Venue Construction Standards” published by the China Sports Venues Association, eSports venues are classified into four grades: A, B, C, and D. The standards clearly state that eSports venues of grade C or higher must be equipped with LED displays. At the viewing areas, at least one main display screen and several auxiliary screens must be installed to ensure that spectators can clearly view the event in normal conditions. The standards also specify that LED displays with a pixel pitch of P3 or higher must be used.

As eSports venues across China continue to be constructed or upgraded, LED displays will be integrated into sports venues, providing a higher-quality viewing experience and contributing to China’s goal of becoming a global sports powerhouse.

Mini/Micro LED Accelerates Commercialization, Micro LED Transparent Displays and Curved Displays Gain Attention

In 2024, the investment enthusiasm for Mini/Micro LED technology remains high, with over 80 billion RMB invested by the end of December. Although the investment level has slightly decreased compared to 2022 and 2023, companies entering the market have already made early investments, and most new funds are additional investments, further facilitating technological breakthroughs and accelerating the commercialization of Mini/Micro LED products.

Currently, Mini/Micro LED technology can be applied to commercial displays, all-in-one displays, movie screens, smartwatches, AR glasses, and more. However, Micro LED still faces challenges such as high costs, low market acceptance, mass transfer issues, and high-precision substrate requirements. As a result, widespread adoption is still some time away.

In 2024, Micro LED AR glasses became a global sensation. It is expected that more than 20 new models will be mass-produced, involving 12 brands, including Thunderbird, Yimgu, Liweike, Meizu, and Vuzix. Micro LED is expected to achieve large-scale mass production in the future.

Notably, nearly 10 companies have released various Micro LED transparent displays, which have garnered significant attention. For example, Lenovo unveiled a Micro LED transparent screen laptop, AUO launched a Micro LED transparent screen for automotive displays, and BOE released its Micro LED transparent display products. Thanks to their transparency, strong stability, and long lifespan, these displays are expected to compete with OLED technology.

Another trend in 2024 is the rise of Micro LED curved displays. Samsung, LG, and AUO have all released Micro LED curved displays. The earliest of these technologies were launched by China-based Royole, followed by companies like AUO, Samsung, and various universities. Micro LED curved displays, with their stretchable features, can be applied to uneven surfaces, expanding the boundaries of LED display applications. Of course, this also creates some overlap with flat Micro LED products. Currently, they are being used in automotive displays, wearables, fashion, and medical fields.

Other Niche Markets

LED transparent displays and irregular displays are currently undergoing a period of reshuffling.

In 2024, the LED display industry is becoming increasingly competitive, with some niche markets, such as LED transparent displays and irregular displays, experiencing a reshuffling phase. Since 2008, LED transparent displays have rapidly gained popularity. After over a decade of development, the technology has matured, and the product categories have become increasingly diverse. These displays have entered mainstream applications. However, due to intense price competition and subpar products flooding the market, 2024 has witnessed a period of restructuring. To capture market share, various conceptual LED transparent display products have emerged, with some manufacturers opting for inferior products to increase profits, ultimately harming the market.

LED irregular displays, originally avoiding competition due to their customization features, have also fallen into unhealthy competition as standardization has increased. Even though irregular LED displays come in various shapes, such as round, triangular, trumpet-shaped, and polygonal, the modules have become more standardized, and customers can now combine them into the required products with ease. As a result, LED irregular displays are now also facing increasing competition.

3. Current Technological Development in the LED Display Application Industry

Development of Packaging Technology (SMD, COB, MIP Technologies Advancing Simultaneously)

SMD (Surface Mount Device) is a packaging form for electronic components. Unlike traditional through-hole components (such as DIP), surface-mount components do not require pins for connection. Instead, they are directly soldered to the circuit board, offering advantages such as smaller size, lighter weight, and higher reliability. Currently, SMD remains the mainstream technology, but it is facing challenges from COB (Chip on Board) and MIP (Mini-LED Integrated Package) technologies.

COB packaging involves directly adhering the chip to the substrate and using wire bonding for connection. COB technology uses frame-free packaging, where the chip and substrate are not separated by additional components, enabling better circuit layout and compactness. COB packaging includes both direct (conventional) and flip-chip (inverted) configurations. In direct COB, the angle of light emission and wire bonding distance inherently limit the product’s performance. Flip-chip COB, as an upgraded version of direct COB, enhances reliability, simplifies the production process, improves display effects, provides a better near-screen experience, and enables chip-level pixel pitch, achieving levels comparable to Micro LED. It excels in brightness, contrast, black consistency, and display stability, outperforming traditional SMD products. Since COB screens cannot sort individual LED chips based on optical performance like SMD screens, full-screen calibration is required before shipping.

MIP packaging refers to cutting the LED panel’s light-emitting chips into individual or multi-in-one devices. After optical mixing and selection, they are soldered to the PCB using SMT (Surface-Mount Technology). This “divide and conquer” approach reduces chip size, lowers power loss, and enhances display consistency, offering the potential to reduce costs significantly and improve yield, thereby enhancing the performance and efficiency of LED display devices.

Currently, SMD, COB, and MIP each have their advantages. These three packaging technologies are advancing in parallel, driving the development of the LED display industry. Overall, SMD remains dominant, but COB is gradually capturing the market for screens with pixel pitches below P1.2. As MIP technology matures, it is expected to capture a portion of the market share currently held by SMD and COB.

Development of Drive Technology (Multi-channel, Row/Column Integration)

Drive IC technology is also maturing, moving toward multi-channel and row/column integration. Multi-channel drive ICs support multiple independent LED channels, each capable of independently controlling current and switching states. These ICs are ideal for driving large LED displays, meeting the demands for high brightness, uniformity, and stability. For example, Macroblock has introduced the common-cathode drive chip MBI5762, which supports up to 48 channels with a maximum of 32 scan lines, capable of handling 240-frame input with point spacing ranging from P4 to P0.8mm. The display can achieve a 16-bit grayscale and a refresh rate of 7680Hz. It also features advanced visual computing functions to mitigate low-gray flicker and scan line issues often encountered during shooting.

The “row/column integration” technology in display driver ICs refers to the integration of row and column driving functions on a single chip. This design reduces the number of chips, simplifies wiring, and lowers system costs and complexity. Row/column integrated driver ICs typically offer higher integration and better performance. For example, the ICND2260 from IC Design North is an IC designed specifically for Mini/Micro-LED displays. With full intellectual property rights, the ICND2260 uses a row/column integrated architecture, driving 4048 pixels with a single chip. By cascading two chips, it can drive up to 8096 pixels. This chip uses Mini-LVDS high-speed communication, supports higher frame rates, and adopts advanced manufacturing processes to reduce power consumption and temperature in Mini/Micro LEDs.

Development of Control Systems (Integration, Intelligence, and Chip-Based Solutions)

As the “brain” of LED displays, the control system directly impacts the display quality, making it crucial. Currently, the LED control system market is valued at approximately 7 billion RMB. In addition to professional LED control system manufacturers, some LED display companies are also entering the market. As LED and LCD technologies continue to converge, some audio-video and conference system companies have joined the market, increasing competition. Overall, the LED control system industry is concentrated, with leading companies such as NovaStar, Colorlight, and Bird Technologies dominating the market.

As small-pitch LEDs develop and application scenarios become increasingly diverse, higher demands are placed on LED control system manufacturers. This is driving LED control systems toward more integrated, intelligent, and chip-based solutions. Today, LED control systems are becoming increasingly compact, energy-efficient, environmentally friendly, and feature-rich, providing excellent display effects and meeting a wide range of customer needs.

4. Industry Development Bottlenecks

Market Growth Without Profit Growth

As seen from the third-quarter reports, the industry has witnessed an increase in high-end products, expanded production capacity, and a notable trend toward centralized and intensive development. However, product prices have dropped, and competition has intensified. If management costs, R&D expenses, employee costs, and international expansion costs are not well controlled, businesses may struggle to maintain profitability.

Weak Growth in Emerging Markets

LED Cinema Market

Data shows that over 50 LED cinema screens were installed in China in 2024, showing a slight increase year-on-year. Currently, China has around 90,000 cinema screens. If 20% of these were replaced with LED cinema screens, that would amount to 18,000 screens. Based on past trends, the replacement cycle is roughly 10 years, which means at least 1,800 screens would need to be updated annually. However, the growth in LED cinema screen installations has been sluggish thus far.

XR Market

With the development of VR (Virtual Reality), AR (Augmented Reality), and MR (Mixed Reality) technologies, XR (which encompasses VR, AR, and MR) is gaining widespread attention. XR technology can be applied in virtual spaces, with LED displays serving as the medium to connect the real world with the virtual world. This technology helps fulfill various needs in the virtual world that cannot be met in the real world, such as in the metaverse, XR gaming, and XR virtual filming.

According to a report from IDC, in the first half of 2024, the shipment of AR/VR headsets in China was only 233,000 units, a 29.1% year-on-year decline. These shipment figures indicate that, for most ordinary consumers, XR is still considered a niche market for early adopters.

Currently, XR technology is being applied in fields such as gaming, advertising, stage performances, exhibition centers, cultural tourism, wearable devices, education and training, virtual try-ons, and virtual fitness. However, it is mainly being adopted by a few well-established international and domestic companies. With the market cooling, some companies have already exited the sector.

Consumer Market

With the development of fine-pitch LED technology, LED displays are gradually being applied to the consumer market, such as Mini/Micro LED direct-view televisions, home theaters, and live-streaming studios. However, due to the high costs, the commercialization process is slower than expected.

According to data, the global shipment of Mini LED backlight TVs is expected to grow significantly between 2024 and 2025. Shipments are expected to reach 5.6 million units in 2024, a 73.3% year-on-year increase. By 2025, shipments are projected to reach 7.5 million units, potentially surpassing OLED TVs and becoming the dominant technology in the global high-end television market. Mini/Micro LED direct-view TVs will also be affected by this trend, raising concerns within the industry about whether they will lose market share to Mini LED backlit TVs.

In the small- to medium-sized display market, products like Micro LED smartwatches, AR glasses, smartphones, monitors, and automotive displays are seen as highly promising. However, currently, only Micro LED AR glasses have achieved large-scale production, and other products are expected to take some time before they are commercially available.

Recent reports from The5kRunner indicate that Garmin, a brand known for sports and wearable devices, is internally testing the Fenix 8 Micro LED smartwatch. However, due to production challenges with Micro LED displays, the official release of this smartwatch may be delayed by more than a year.

Conclusion

Looking back at 2024, it has been a year of both achievements and challenges. Although domestic demand has been sluggish, overseas markets have driven sales performance. Some niche areas, such as LED rental screens, XR virtual studios, and all-in-one LED displays, have shown strong performance. With the rollout of government policies supporting the industry, Mini/Micro LED products are gradually moving into mass production. However, due to high costs and the complexity of mass adoption, it will take some time before the market truly explodes. Looking ahead to 2025, we must remain confident and continue to push forward.