Skyworth Digital, a subsidiary of Skyworth Group, recently released its third-quarter 2017 financial report. The data shows that the company's operating revenue for the first three quarters of 2017 reached 5.144 billion yuan, marking a year-on-year growth of 20.98%. Within this period, the set-top box business saw a 14.83% increase in sales volume and a 14.23% rise in revenue. Meanwhile, the LCD module segment experienced a remarkable 72.13% growth in revenue during the same timeframe.
In the third quarter alone (July–September), the set-top box business recorded an impressive 34.8% increase in sales volume and a 39.68% rise in operating income. The LCD module business also performed strongly, with a 71.54% year-on-year revenue increase. These results highlight Skyworth Digital’s strong performance across multiple key business areas, including set-top boxes and LCD modules.
Skyworth has maintained a leading position in the domestic set-top box market. Since its listing on the A-share market in September 2014, the company has focused on strengthening its set-top box supply chain and expanding into the smart home sector. Dr. Shi Chi, CEO of Skyworth Digital at the time, emphasized the need to become an intelligent gateway within the internet ecosystem, driving both scale expansion and operational transformation. This vision led to significant progress in the set-top box business, securing a dominant market position through large-scale operations and extensive coverage.
This year, Skyworth further enhanced its market share and reach by integrating multi-functional features, smart upgrades, and responding effectively to operator demands. In the third quarter, domestic radio and TV operators saw a 36.6% increase in sales volume and a 52.7% rise in revenue, while telecom operators experienced a 60.36% sales growth and a 66.56% revenue increase. Additionally, the retail segment for independent OTT brands reported a 10.10% sales growth and an 8.35% revenue increase.
Skyworth's overseas set-top box business also showed strong performance, with a 20.96% year-on-year increase in sales volume and a 21.94% rise in revenue during the third quarter. The company successfully entered the North American market, securing orders from high-end operators through its Caldero team. Its subsidiary Strong achieved notable success in promoting OTT smart terminals in Europe. With global subsidiaries working together, Skyworth expanded its business scale significantly, contributing to strong third-quarter growth.
Skyworth has long prioritized international expansion. In 2015, it acquired Caldero and StrongMedia, enhancing its STB channel resources and market presence in Europe. Leveraging China’s “Belt and Road†initiative, Skyworth has tapped into new markets along the route, achieving a top market share in India for years. In 2015, over 5 million set-top boxes were exported to India, offering a richer viewing experience to Indian consumers.
Looking ahead, Skyworth plans to further strengthen its global strategy for digital set-top boxes. It aims to build and optimize a global supply chain and production system, ensuring efficient resource allocation between overseas and local operations. The company will also establish an overseas after-sales service team to improve customer satisfaction and boost overseas sales.
In 2016, Skyworth Digital made a strategic move into the LCD module industry by acquiring 100% of Skyworth LCD (Shenzhen) Co., Ltd. for 889 million yuan. This acquisition helped diversify its product structure and reduce risks associated with relying solely on the set-top box business. After more than a year of operation, the LCD module business achieved significant breakthroughs.
The report indicates that for the first three quarters of 2017, LCD module revenue reached 733 million yuan, up 72.13% year-on-year. In the third quarter alone, revenue was 260 million yuan, a 71.54% increase compared to the same period last year. The LCD module business has developed a high-end customer base, producing ultra-thin, ultra-narrow, and low-power display modules for mobile phones, tablets, and wearables. It has also made progress in overcoming challenges such as visible 3D technology and quantum dot films, with plans for mass production in the future.
Skyworth Digital’s achievements are driven by continuous innovation and the application of advanced technologies. At the Shenzhen Science and Technology Awards Conference in September, the company won four awards, recognizing breakthroughs in multimedia system technology, digital broadcasting, broadband transmission, and chip-scale packaging. With its strong R&D capabilities and market scale, Skyworth continues to drive revenue growth and expand its competitive edge.
Moving forward, Skyworth Digital will focus on leveraging its technical strengths, promoting innovation, optimizing product structures, broadening its industrial chain, and enhancing competitiveness to achieve larger revenue growth and market expansion.
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