Rebound expected in China's TV sales

China's television industry is expected to rebound this year after witnessing a downturn in 2017, with sales ascending to 48.98 million units, up 3.1 percent year-on-year, an industry report said.

The sales of televisions in the domestic market reached 47.52 million units last year, down 6.6 percent year-on-year due to the tough oversight of the red-hot property market, the rising price of display panels and the lack of major sports events, according to the report, which was released by Beijing-based consultancy All View Cloud and the China Video Industry Association.

Affected by the soaring price of raw materials, the average price of liquid crystal display (LCD) TVs has increased from 3,200 yuan ($500.8) early last year to 3,500 yuan at the end of last year, up 12 percent year-on-year.