TCL has reported that it shipped over 16.57 million LCD TVs in 2014, down 3.5% on year. The company reportedly aimed to ship 17 million in 2014 but fell short due to declining demand in China and lower-than-expected demand in markets abroad.

The company also reported its shipments in December 2014 reached 1.99 million, down 5.3% on year, but increased 6.8% on year in the China market to 1.33 million. Within that number, 588,500 were smart TVs to hold a 44.2% share.

In markets outside of China, TCL saw a 22.8% decline in shipments during December at 666,800, with shipments in emerging markets reaching 410,800, down 14.7%.

TCL added that it focused more on shipments of larger-size, higher-end products in order to maintain profits.