Last year, global TV shipments reached 223 million units, down 3% from the previous year.
“Both global TV and premium TV will grow in 2024.”
▲Samsung Electronics model is introducing the Neo QLED 8K model. (Photo provided by Samsung Electronics)
Samsung Electronics maintained its top position by ranking first in global TV shipments despite the market downturn. LG Electronics also maintained its status as a Korean TV market by recording a solid market share.
According to Counterpoint Research, a global market research company, on the 26th, global TV shipments last year amounted to 223 million units, down 3% from the previous year.
Among these, Samsung Electronics recorded a 16% global TV shipment share in 2023, maintaining its first place in 2022. While competition between 2nd and 4th places was fierce, LG Electronics ranked 4th with 10%, following China’s Hisense (11%) and TCL (11%).
Looking at the premium TV market alone, Samsung Electronics took first place in terms of shipment volume and sales (based on retail price), recording a market share of 45% and 44%, respectively. LG Electronics also solidified its position in the market, ranking second in shipments and sales with 20% and 23% shares, respectively.
The combined sales of the two companies are 67%. This means that despite the continued market recession, Korean products accounted for more than half of the demand in the entire premium TV market.
In response, Counterpoint Research assessed that Samsung and LG maintained a solid dominance, but that the growth of Chinese brands was notable.
Counterpoint Research said, “Samsung Electronics is leading the premium LCD TV sector and LG Electronics is leading the organic light-emitting diode (OLED) TV sector, but as the growth of Chinese brands accelerates, the shipments and sales of Samsung Electronics and LG Electronics decreased as of the fourth quarter of last year. “They all decreased compared to the previous year,” he explained.
▲Market share by global TV company in 2023. (Source = Counterpoint Research)
Premium TV shipments in the fourth quarter of last year only increased by 1% compared to the same period last year. Looking at sales alone, OLED TVs decreased by 18% compared to the same period last year. In the case of premium LCD TVs, price declines were prevented by increased shipments of mini LED LCDs, and sales increased by 9%.
As a result, sales in the entire premium TV market only decreased slightly by 3%. Quantum dot (QD)-OLED TVs increased by 78% and 66% in shipments and sales compared to the same period last year, while white OLED (WOLED) TVs decreased by 29% and 31%.
By region, shipments and sales in Western Europe and North America both decreased, while both China and Asia Pacific markets grew. In particular, China showed growth with shipments and sales increasing by 39% and 49%, respectively.
Lim Soo-jeong, a researcher at Counterpoint Research, said, “The global TV market has continued to be sluggish since the COVID-19 crisis, but due to the demand for replacement with large-screen smart TVs and expectations of improvement in macroeconomic conditions, the global TV market is expected to grow by 2-3% in terms of volume this year. “It will be shown,” he predicted.
Lee Je-hyuk, a researcher at Display Supply Chain (DSCC), predicted, “In 2024, the premium TV market will grow by 6% and 2%, respectively, in shipments and sales compared to the previous year through screen size expansion and price increases.”