New Round of AC Price Wars Starts in the Chinese Market

2020-08-02
China’s air conditioner market suffered huge losses in the first quarter of 2020. According to China’s home electronics industry report in the first quarter of 2020, the domestic sales were RMB 117.2 billion (US$ 16.6 billion), falling by 36.1% year on year. According to All View Cloud (AVC) statistics, retail sales of air conditioners recorded 5.24 million units or RMB 14.92 billion (US$ 2.1 billion) in the first quarter this year, falling by 46.6% and 58.1% year on year, respectively.
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