Skyworth Digital, a subsidiary of the Skyworth Group, recently released its third-quarter financial report for 2017. The results highlight impressive growth across several key business segments. For the first three quarters of the year, the company recorded an operating revenue of 5.144 billion yuan, reflecting a year-on-year increase of 20.98%. Notably, the set-top box division saw a 14.83% rise in sales volume and a 14.23% increase in revenue. Meanwhile, the LCD module business experienced a significant surge, with a 72.13% year-on-year revenue growth.
In the third quarter alone (July–September), the set-top box business showed even stronger performance, with sales volume rising by 34.8% and operating income increasing by 39.68%. The LCD module segment also delivered strong results, with revenue climbing by 71.54% during the same period. These figures underscore Skyworth Digital’s success in expanding its market presence and driving growth across multiple product lines.
Skyworth has long been a leader 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 ecosystem and entering the smart home sector. As Dr. Shi Chi, then-president of Skyworth Digital, emphasized, the company aimed to become a key player in the internet ecosystem by expanding its smart end offerings and enhancing operational efficiency. This strategic shift helped Skyworth secure a leading position in the industry.
This year, Skyworth further solidified its market leadership through enhanced functionality, smart upgrades, and active engagement with operator needs. In the third quarter, domestic radio and television operators saw a 36.6% increase in sales volume and a 52.7% rise in revenue. Telecommunication operators also performed well, with sales up 60.36% and revenue jumping 66.56%. Even the retail segment for independent OTT brands saw modest but steady growth, with sales up 10.10% and revenue rising 8.35%.
Internationally, Skyworth's set-top box business continued to shine. In the third quarter, sales volume grew by 20.96% and revenue increased by 21.94% year-on-year. The company successfully entered the North American market, securing contracts with top-tier operators. Its Caldero team secured high-end orders, while its subsidiary StrongMedia made notable progress in promoting OTT smart devices in Europe. These efforts contributed significantly to the company’s overall growth.
Skyworth has long prioritized international expansion. In 2015, it acquired Caldero and StrongMedia, gaining access to European markets and boosting its STB channel resources. Leveraging China’s “Belt and Road†initiative, the company expanded into emerging markets along the route. Skyworth has maintained a leading market share in India for years, exporting over 5 million set-top boxes in 2015 alone, enriching the viewing experience for Indian consumers.
Looking ahead, Skyworth plans to further globalize its digital set-top box strategy. It aims to build a more efficient global supply chain, optimize resource allocation, and establish local after-sales teams to better serve international customers.
Another major milestone came from Skyworth’s LCD module business. In January 2016, the company acquired 100% of Skyworth LCD (Shenzhen) Co., Ltd. for 889 million yuan, marking its entry into the LCD module market. After over a year of operation, the business achieved remarkable progress. For the first three quarters of 2017, revenue reached 733 million yuan, a 72.13% increase compared to the previous year. In the third quarter alone, revenue hit 260 million yuan, up 71.54% year-on-year.
The LCD module business has developed a high-end customer base, producing advanced display modules for smartphones, tablets, and wearables. These modules feature ultra-thin designs, wide color gamut, low power consumption, and minimal screen footprint. The company has also made breakthroughs in technologies such as visible 3D and quantum dot films, with plans for mass production in the near future.
Skyworth’s success is driven by continuous innovation and technological advancement. At the Shenzhen Science and Technology Awards Conference in September 2017, the company won four awards for its groundbreaking work in digital TV broadcasting, broadband transmission, and chip-scale packaging. With a strong R&D foundation and market scale, Skyworth continues to drive revenue growth and strengthen its competitive edge.
Moving forward, Skyworth Digital will focus on leveraging its technical capabilities, fostering innovation, optimizing product structures, and broadening its industrial chain to enhance market competitiveness and achieve sustained revenue growth.
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