New data from Counterpoint Research and DSCC reveals a TV market slightly decreasing (-4%) in the first quarter of 2024, with China and Japan recording the most significant declines. Samsung maintains global leadership with 16% market share, followed by Hisense and TCL, both at 10%. LG ranks fourth with 9%, but dominates the OLED segment (49%). Xiaomi closes the top 5 with 5%, driven by strong sales in China.
The real protagonist, however, is the premium segment, with an increase of 15% compared to the previous year. MiniLEDs (+24%) and models over 70 inches (+28%) drive growth, pushing brands like TCL to focus on extra-large formats such as 98″ and the new 115″.
Here is the ranking of the top 5 brands in the premium TV market:
- Samsung: 42%
- LG: 18%
- TCL: 14%
- Hisense: 13%
- Sony: 3%
To summarize, what does this data tell us? Several interesting things:
- the traditional TV market is stalling, with consumers generally more budget-conscious, but the trend of decline appears to be slowing compared to the previous quarter;
- the premium segment is growing and leading the recovery, driven by MiniLEDs and increasingly larger formats;
- Chinese brands such as Hisense and TCL are gaining ground and are now just as consolidated as historical giants such as LG and Sony (and have already caused the exit from the LCD TV panel market of a historical brand such as Sharp).
We’ll see how the situation evolves in the coming months and years, and whether Samsung and the new brands will finally manage to undermine LG in the OLED segment too.
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