China's TV market continues to shrink in May: report

BEIJING -- The TV market in China continued to shrink in May, according to an industry report published by the market research institute GfK.

Last month, online and offline sales of TVs in China respectively fell 37 percent and 26.8 percent year-on-year, said Gfk.

The TV market in China rebounded at the beginning of the year, said the firm, adding that the market cooled down from March and continued to slump in the following two months.

The average price of TVs sold online hit 2,715 yuan ($419) in May, up 42.4 percent year-on-year, while offline prices averaged 5,045 yuan, up 29.2 percent, the data shows.