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China: Chinese speaker makers turn up the volume on export growth
Storyline: Chinese speaker makers turn up the volume on export growth [Voice_over] Chinese audio speaker manufacturers are riding a sound wave of export growth that shows no sign of fading. Data from the China Audio Industry Association shows that the country exported nearly 10 billion U.S. dollars-worth of major audio products in Q1, up more than 18 percent from a year ago. Those in the industry say that momentum is expected to carry over into the second and third quarters. Now in peak export season, speaker factories are running at full capacity to keep up with demand. [Sound_bite] Lu Hongda, director, speaker manufacturer: "The peak season runs from July to September each year as we fulfill Christmas orders. We've been expanding our production capacity since 2023, but every time a new line is added, demand will surpass our capacity. That's why we're still building additional capacity. Since January, we've seen 20-30 percent growth in export orders." [Voice_over] Europe and the Unites States have long been strongholds for Chinese speaker exports. But in recent years, manufacturers say emerging markets like Southeast Asia are becoming new growth engines. [Sound_bite] Chen Lin, overseas operations director, speaker manufacturer: "Previously, European and American orders accounted for 80-90 percent of our total sales. Now we're seeing rapid growth in emerging markets, which already represent over 30 percent of our business - primarily from Southeast Asian countries like Singapore, Malaysia, and the Philippines, along with Latin American markets including Mexico." [Voice_over] Industry data shows that in 2024, the export value of China's major audio products increased more than four percent year on year. [Restrictions : No access Chinese mainland]
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