Global TV Shipments Grow Due to 'Olympic Effect'... Samsung Electronics Holds No.1 Market Share

Counterpoint Research Survey
TV Shipments Reach 56 Million Units in Q2
Samsung Electronics Maintains 1st Place with 15%
China, Focused on Mini LED, Fiercely Chasing

The global TV market grew for the first time in four quarters, driven by the 'Olympic boost.' Among them, Samsung Electronics maintained its number one market share position.

At the 'Unbox & Discover 2024' event held last March at Samsung Electronics Seocho Building in Seocho-gu, Seoul, a promotional model is unveiling the 'Neo QLED 8K'. Photo by Jinhyung Kang aymsdream@

According to global market research firm Counterpoint Research on the 19th, global TV shipments in the second quarter of this year reached 56 million units, a 3% increase compared to the second quarter of last year.

By region, the European market grew by 13%, while the Chinese market continued to decline due to market saturation. Among companies, Samsung Electronics held the top spot with a 15% market share. However, this was the lowest market share recorded for Samsung in a second quarter, narrowing the gap with the second place. In the competition between China's Hisense and TCL, who compete for second place each quarter, TCL (11%) narrowly overtook Hisense (10%) to reclaim second place. LG Electronics ranked fourth, recording an 8% increase in shipments compared to last year, supported by strong performance in the European market.

Market growth in the second quarter was led by premium TV models. Premium TV shipments surged 45% compared to the same period last year. In this segment, due to the strong growth of Chinese brands such as Hisense and TCL, Samsung Electronics recorded a market share of 33%, falling below 40% for the first time. Additionally, shipments of Mini Light Emitting Diode (LED) Liquid Crystal Display (LCD) TVs grew rapidly by 69% compared to the same period last year, surpassing Organic Light Emitting Diode (OLED) shipments for the first time. This is interpreted as a result of Chinese manufacturers focusing more on Mini LED than OLED TVs. Although OLED TV shipments also increased by 21%, showing an upward trend, Counterpoint Research explained that their share in the overall TV market remains small.

Im Su-jeong, a researcher at Counterpoint Research, said, "The rebound in the TV market in the second quarter was an expected result from the beginning of the year, anticipating the Olympic boost," and analyzed, "Growth was particularly notable in Europe, and the Asian region excluding China and Japan, as well as South America, showed better-than-expected performance." Lee Je-hyeok, a researcher at DSCC, a subsidiary of Counterpoint Research, predicted, "Due to the global economic downturn, the growth of Mini LED LCD TVs over 50 inches, which have price competitiveness in the premium TV market, is expected to continue for the time being."