Counterpoint Research Statistics Released
Last Year's TV Shipments Decreased by 3% Compared to the Previous Year
Samsung and LG Rank 1st and 2nd in the Premium TV Market
Samsung Electronics secured the world's number one market share in the TV market based on shipment volume last year. When looking at the overall TV market, Chinese companies accounted for a higher share than domestic firms. The global TV market, which had slowed down due to last year's economic downturn, is expected to recover this year.
Global TV Shipments Decrease by 3%... Expected to Grow 2-3% This Year
Market research firm Counterpoint Research announced on the 26th that global TV shipments last year totaled 223 million units, a 3% decrease compared to the previous year. By region, the largest market, North America, showed growth, partially offsetting declines in the Chinese and European markets.
Global TV Market Share by Company Based on Last Year's Shipment Volume / [Image Courtesy of Counterpoint Research]
This statistic is based on a report jointly produced for the first time after Counterpoint Research acquired DSCC, a market research firm specializing in the display sector.
In last year's global TV market, Samsung Electronics ranked first in market share based on shipment volume with 16%. Following were China's Hisense (11%) and TCL (11%), LG Electronics (10%), and China's Xiaomi (5%). Looking at the top five companies, Chinese firms accounted for 27%, surpassing South Korea's 26%.
The market is expected to recover this year. Researcher Im Sujeong of Counterpoint Research stated, "With replacement demand for large-screen smart TVs and expectations for improvements in macroeconomic conditions, the market is projected to grow by about 2-3% in volume this year."
Samsung Leads Premium LCD, LG Leads OLED TV
In the premium TV market, which accounts for about 10% of the total TV market based on shipment volume, Samsung Electronics ranked first last year in both shipment volume (45%) and sales (44%). LG Electronics ranked second with a 20% share in shipments and 23% in sales.
Lower-ranked companies had the same rankings in sales and market share, with TCL and Hisense, both Chinese companies, taking third and fourth place respectively. Sony from Japan ranked fifth.
Last year's shipment volume and sales-based global premium TV market share / [Image provided by Counterpoint Research]
Currently, Samsung Electronics leads the premium LCD TV segment, while LG Electronics leads the OLED TV segment. However, with the recent acceleration of Chinese brand growth, both companies' shipment volumes and sales shares as of the fourth quarter last year declined compared to the same period the previous year.
Premium TV shipments in the fourth quarter last year increased by only 1% compared to the same period the previous year. In terms of sales, OLED TV sales decreased by 18% year-on-year, but premium LCD TV sales increased by 9% due to a rise in miniLED LCD shipments, which helped defend against price declines. As a result, total premium TV market sales decreased slightly by 3%.
By region, shipments and sales in Western Europe and North America both declined, while China and the Asia-Pacific markets saw increases. Notably, China showed remarkable growth with shipments and sales rising by 39% and 49%, respectively.
DSCC researcher Lee Jehyeok predicted, "This year, the premium TV market will grow by 6% in shipments and 2% in sales compared to last year, driven by larger screen sizes and price increases."
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