(Yicai) July 30 -- Chinese light-emitting diode display manufacturers are accelerating their expansion into overseas markets to make up for insufficient domestic demand, seeing the Paris 2024 Summer Olympic Games as the perfect stage to showcase their products and services to the world.

Unilumin Group has provided more than 2,600 square meters of LED screens for the inside and outside of five areas at the games, including at the Stade de France, the Parc des Princes, and the Seine River, where the opening ceremony was held, the Shenzhen-based firm told Yicai.

Domestic demand will continue to be weak in the second half of this year, so Unilumin plans to further enhance its presence in Europe, the United States, and emerging markets, it added.

In addition to offering display and lighting solutions for the Union of European Football Associations' European Soccer Championship in Germany and the Paris Olympics this year, Unilumin will also explore new business opportunities in remote broadcasting, Board Secretary Chen Yifan said at an event for communicating with investors on July 23.

Absen Optoelectronic, another Shenzhen-based display manufacturer, provided more than 50 large LED screens for the opening ceremony of the Paris Olympics, the Accor Arena, and the square of the city hall of Paris, including stage and outdoor advertising screens.

Aoto Electronics, also based in Shenzhen, offered 16 LED displays of over 300 sqm for the Paris Charles de Gaulle Airport, while display giant BOE Technology Group provided China's Olympic fencing team with Mini LED products and other training equipment, the two companies told Yicai.

Chinese companies' global market share in the LED industry is around 70 percent, but their brand influence is still poor, a source from Unilumin said to Yicai, noting that the company hopes to hike its global influence and competitiveness by relying on large-scale sporting events.

Due to the downturn in domestic demand this year, Chinese LED manufacturers' earnings narrowed in the first quarter, with display prices falling amid fierce tech competition, Yu Bin, an analyst at market research agency TrendForce, told Yicai. It remains to be seen how much the large-scale sporting events in Europe boosted their business performance, Yu added.

The global LED display market rose 5.1 percent to USD7.3 billion last year from the prior one, with the Chinese market climbing 1.5 percent to USD2.4 billion, according to statistics from TrendForce. The market in China will contract this year, but the rest will likely grow to USD5.2 billion, it forecast.

Editors: Dou Shicong, Martin Kadiev