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Original title: TrendForce: Global TV shipments in the first half of 2024 increased by 0.8% year-on-year, TCL is expected to challenge the second place for the whole year

IT Home reported on August 27 that according to the latest survey by TrendForce, global TV brand shipments in the first half of 2024 reached 90.717 million units, a year-on-year increase of 0.8%. Demand performance varied across regions. In China, TV sales were not as good as expected due to real estate market factors and changes in usage habits among young people.

In contrast, demand in North America was supported by continued low-price competition, while Europe benefited from sports events and the low base effect of inflation in the previous two years, resulting in better-than-expected TV shipments in the first half of the year.

The report said that the second half of the year is the peak season for traditional TV demand. Although brand shipments have increased, the growth rate has slowed significantly. In addition, due to the continued rise in panel prices in the first half of the year and the fact that end consumers still prefer to buy affordable TVs, it is difficult for brands to pass on costs to the market. Therefore, they have reduced the scale of festival promotions and turned to developing large-size and mid-to-high-end products to reduce losses. This move will increase the average size of TVs by 1.4 inches in 2024 to 55.5 inches.

IT Home noticed that the report statistics showed that the top five TV brands in the first half of 2024 were Samsung Electronics, Hisense, TCL, LG Electronics and Xiaomi.

Although TCL ranked third with a narrow gap, it has a higher coverage in Europe and emerging markets. Its shipments in the second quarter surpassed Hisense to reach 6.68 million units, and its quarterly and annual growth exceeded 10%. TrendForce said that TCL Group is expected to challenge the second place in global shipments in 2024 by virtue of its panel factory's production capacity and price advantages, as well as its own highly automated whole machine production.

Mini LED TV performance exceeded expectations, driving 55% growth in shipments this year

TrendForce pointed out that in the first half of 2024, TV brands will continue to face problems such as panel price increases and freight increases. In order to improve revenue, manufacturers continue to expand product sizes. For example, Chinese brands TCL, Xiaomi and Hisense reduce the number of Mini LED partitions to attract consumers with more competitive prices.

This strategy has successfully stimulated demand, with full-year Mini LED TV shipments expected to grow 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 dropped by 17 percentage points from the same period last year. If Samsung fails to launch highly competitive products in 2025, its market share in Mini LED TVs may be surpassed by TCL.

OLED TV shipments return to 6 million mark

In terms of OLED TVs, OLED TV brand shipments fell by 20% in 2023. In 2024, brands adjusted their promotional strategies. In addition, Samsung joined the white light OLED TV market, prompting LG Electronics to significantly cut prices by 25% to 33% during the promotional season, thereby boosting sales. It is expected that overall OLED TV shipments this year will increase by 15.9% year-on-year to 6.23 million units. The two major Korean brands LG and Samsung will account for 53.3% and 22.5% of the market share respectively.

TrendForce predicts that if the cost of OLED TVs cannot be effectively reduced by 2025, it will be difficult to attract other mainstream brands to adopt them, and shipments may hover between 6 million and 6.5 million units.