Chinese Mainland Display Panel Manufacturers Dominate the Extra-Large-Size TV Market
TapTechNews August 12th news, Omdia released a research report today, The liquid crystal TV display panel has now become an oligopolistic industry controlled by a few powerful Chinese mainland display panel manufacturers such as BOE, CSOT and HKC. These companies' share in the 65-inch, 75-inch, and 85-inch liquid crystal TV panel market has reached nearly 70% to 85%, and almost 100% in the extra-large-size liquid crystal TV (90 to 115 inches) market.
From January to May 2024, The panel procurement market share of Chinese leading brands such as TCL and Hisense has increased to 28%. Their early adoption and procurement of extra-large-size panels from Chinese mainland display panel manufacturers is particularly remarkable. This strategy not only helps display panel manufacturers efficiently utilize their display panel production capacity, but also promotes Chinese mainland TV complete machine brand manufacturers to become global leaders in the extra-large-size liquid crystal TV market.
The report said that in 2024, Chinese mainland display panel manufacturers continue to drive the shipment of extra-large-size liquid crystal TV panels to increase by 35% year-on-year.
In 2022, to deal with the overcapacity of liquid crystal panels, display panel manufacturers chose to increase the output of extra-large-size liquid crystal TV panels. Since the third quarter of 2022, they have significantly reduced the price of extra-large-size TV panels, especially the 85-inch liquid crystal TV panel, hoping that the lower panel price will stimulate the market demand for extra-large-size liquid crystal TV display panels.
Korean panel manufacturers quickly turned to OLED TV panels, while Chinese mainland display panel manufacturers focused on expanding the business of 80 inches and above display panels, and launched a counterattack with an aggressive pricing strategy. Chinese mainland liquid crystal TV panel manufacturers such as BOE, CSOT and HKC are keen on producing 98-inch and 100-inch TVs, and finally produce 100 to 115-inch display panels to make more optimal use of the capacity of their 8.5-generation, 8.6-generation and 10.5-generation TFTLCD liquid crystal panels.
In addition, they also plan to produce panels of 115 inches or larger through the 10.5-generation production line. For example, CSOT's 10.5-generation production line has begun to produce 115-inch display panels with a glass efficiency of 74%. In 2023, Chinese mainland display panel manufacturers drove the shipment of 85-inch and above display panels to increase by 63% year-on-year, and it is expected to increase by 35% year-on-year in 2024.
The report also mentioned that since 2023, Chinese mainland TV manufacturers such as TCL, Hisense, Xiaomi and Skyworth have been significantly reducing the price of 98-inch and 100-inch 4K liquid crystal TVs to boost sales in China. In the fourth quarter of 2023, Chinese mainland TV manufacturers stepped up efforts to reduce the price to less than $1800 (TapTechNews note: currently about 12,916 RMB).