The Chinese e-book market is currently experiencing a surge in popularity, with a staggering 528 million readers as of June 2023. This massive readership is projected to generate a revenue of $1.96 billion by the end of 2024, making it one of the most profitable e-book markets in the world.
A significant driving force behind this boom is China Literature, the largest online literature platform in China and a subsidiary of Tencent. With a 70% share in the online literature market, China Literature offers a vast selection of online works, created by 6.4 million writers, to cater to an impressive average of 192 million monthly users. The genres primarily favored by Chinese readers include fantasy, palace-fighting, tomb-raiding, conspiracy, and romance.
While many brands in the Chinese e-reader market focus solely on domestic sales, there are some major players that have started expanding internationally. iFlytek, a partially state-owned AI firm established in 1999, produces e-book readers exclusively for the Chinese market. They require a mainland phone number during the setup process, and their content is available only in Chinese. Another prominent player is iReader, also known as Zhangyue, which operates its own bookstore and offers firmware updates for English language support.
Onyx Boox International, founded by a team from IBM, Google, and Microsoft, is the leading e-reader and e-note retailer in China. Initially focused on the domestic market, Onyx Boox has since expanded its reach by issuing devices with English language support and integrating Google Play. They have signed deals with distributors worldwide and have become one of the largest e-reader brands globally.
Other players in the Chinese e-reader market include Hanvon, Dasung, Xiaomi, Meebook, Obook, and several new companies. These brands contribute to the vibrant and competitive landscape of the Chinese e-reader market.
When it comes to selling e-readers and e-books in China, most devices are equipped with the Android operating system and their own custom user interface. This consistency in the user experience helps build trust among consumers. While some brands limit the installation of third-party apps, others like Onyx Boox, Meebook, Bigme, and Dasung allow users to choose and customize their own apps and experience.
Chinese e-readers marketed overseas are primarily sold online through platforms like Amazon, Best Buy, Walmart, and Newegg. The availability of homegrown e-readers in the North American market is relatively limited, with Amazon Kindle and Barnes & Noble Nook being the prominent brands. Kobo, based in Canada, stands as the global number two player and sells their e-readers in bookstores worldwide.
In Europe, Remarkable and Pocketbook have gained recognition for their reliable hardware and software, despite having limited retail visibility. Regional companies like Tolino are also making their mark, with their e-readers being sold in bookstores across Germany and neighboring countries.
The Chinese e-book market continues to flourish, attracting millions of readers and generating substantial revenue. With both domestic and international brands vying for market share, consumers have a wide range of options to choose from. As the e-reader industry evolves, it will be interesting to see how these players adapt to changing consumer preferences and technological advancements.
