Advanced Television

Research: China drives growth in premium TVs

February 29, 2024

By Chris Forrester

Research from Display Supply Chain Consultants (DSCC) says that 2023 saw overall TV shipments fall by 3 per cent. They add that it is Chinese consumers who are driving growth in premium models.

DSCC, working with Counterpoint Research’s Global TV Shipment Tracker, says that 223 million units were shipped last year (down 3 per cent). “Strength in the US market was not enough to offset market declines across China and Europe,” said the study.

Samsung Electronics remained in top spot while Chinese vendors Hisense and TCL grew by mid single digit percentages riding the growth in North America.

Premium shipments for the year decreased 1 per cent annually but increased to 10 per cent of the overall market helped by a surge in China, which grew by 39 per cent and 49 per cent in shipments and revenues, respectively.

“A clear shift towards MiniLED LCD TVs by key Chinese OEMs coupled with aggressive pricing and promotions helped to drive the segment domestically,” says DSCC.

As for Q4 2023, DSCC says Chinese brands led by TCL and Hisense gained share in the Advanced TV market in Q4/23. Advanced TV shipments grew 1 per cent Y/Y in Q4 23 to 6.9 million units. OLED TV shipments declined 17 percent Y/Y to 1.9 million units while Advanced LCD TV shipments increased 10 percent Y/Y to 5 million units. Advanced TV revenues decreased by 3 per cent Y/Y to $7.6 billion, the eighth consecutive quarter of Y/Y declines. OLED TV revenues decreased by 18 per cent Y/Y to $2.8 billion while Advanced LCD TV revenues increased by 9 per cent Y/Y to $4.8 billion as the increase in units and a richer mix overcame price declines.

2023 positions
· Samsung enjoyed the top spot with 45 per cent of all shipments (and 44 per cent in terms of revenues).
· LG were in the second position, with 20 per cent of all shipments (and 23 per cent in terms of revenues).
· TCL were at #3, and 11 per cent of shipments (and 10 per cent in revenue).
· Hisense also shipped 11 per cent of units but they were worth 9 per cent of revenues.
· Sony were at #5 with 5 per cent of shipments, but 7 per cent of revenues.

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