TapTechNews August 27th news, according to the latest survey by TrendForce, the global TV brand shipments in the first half of 2024 reached 90.717 million units, with a year-on-year increase of 0.8%. The demand performance varies in different regions. In China, due to factors in the real estate market and the change in the usage habits of young people, TV sales fall short of expectations.
By contrast, in North America, continuous low-price competition supports the demand, while in Europe, it benefits from the drive of sports events, plus the base effect of inflation suppression in the previous two years, and the TV shipments in the first half of the year are better than expected.
The report says that entering the second half of the year is the traditional peak season for TV demand. Although the brand shipments increase, the growth rate slows down significantly. In addition, due to the continuous rise in panel prices in the first half of the year, and because terminal consumers still tend to buy affordable TVs, brand manufacturers find it difficult to pass the cost on to the market, so they reduce the scale of festival promotions and turn to developing large-size and mid-to-high-end products to reduce losses. This will make the average TV size increase by 1.4 inches in 2024 to 55.5 inches.
TapTechNews noticed that the report statistics show that the top five TV brands in the first half of 2024 are Samsung Electronics, Hisense, TCL, LG Electronics, and Xiaomi.
Although TCL is in the third place by a narrow margin, its coverage rate in Europe and emerging markets is relatively high. Its shipments in the second quarter exceeded Hisense, reaching 6.68 million units, and both quarterly and annual growth exceeded 10%. TrendForce said that TCL Group, with the capacity and price advantages of the panel factory and its own high degree of automation in whole machine production, is expected to challenge the second-place position in global shipments throughout the year 2024.
TrendForce pointed out that in the first half of 2024, TV brand manufacturers successively faced problems such as panel price increases and freight rate hikes. To improve the revenue situation, manufacturers continue to expand the product size. For example, Chinese brands TCL, Xiaomi, and Hisense reduced the number of MiniLED partitions to attract consumers with more competitive prices.
This strategy successfully stimulated the demand. It is expected that the annual MiniLED TV shipments will increase by 55% year-on-year to 6.35 million units.
Among them, the combined market share of the three major Chinese brands TCL, Xiaomi, and Hisense will reach 50% for the first time, surpassing Samsung. Although Samsung still occupies 25% of the market share, it has decreased by 17 percentage points compared to the same period last year. If Samsung fails to launch a product with strong competitiveness in 2025, its market share in MiniLED TVs may be surpassed by TCL.
Regarding OLED TVs, the shipments of OLED TV brands decreased by 20% in 2023. In 2024, brand manufacturers adjusted the promotional strategy, and Samsung joined the white light OLED TV market, prompting LG Electronics to significantly reduce prices by 25% to 33% during the promotional season, thereby promoting sales. It is expected that the overall OLED TV shipments will increase by 15.9% year-on-year this year, reaching 6.23 million units. The two major Korean brands LG and Samsung respectively occupy 53.3% and 22.5% of the market shares.
TrendForce predicts that if the cost of OLED TVs cannot be effectively reduced in 2025, it will be difficult to attract the adoption of other mainstream brands, and the shipment volume may hover be tween 6 million and 6.5 million units.