Counterpoint Research Premium TV Market Share Report
Samsung at 30% in Q3 This Year, Down 13% from a Year Ago
Impact of Chinese Aggression... Hisense and TCL Rank 2nd and 3rd
Targeting Premium Market Led by Mini LED TVs
Chinese TV manufacturers are making strong advances in the global market in the third quarter of this year, threatening Samsung Electronics and LG Electronics.
According to market research firm Counterpoint Research on the 25th, Samsung Electronics recorded a 30% market share in the premium TV segment, which includes OLED, Quantum Dot Liquid Crystal Display (QD-LCD), and Mini LED, in the third quarter of this year. This is a 13 percentage point drop compared to 43% achieved a year ago.
Industry analysts attribute this to the aggressive moves by Chinese TV manufacturers aiming to dominate the premium market. In fact, Chinese companies Hisense and TCL displaced LG Electronics (16%) in the premium market in the third quarter, ranking second and third respectively. Hisense and TCL had market shares of 14% and 11% respectively in the third quarter of last year, but their shares rose significantly to 24% and 17% this quarter.
The strategy of Chinese companies targeting the premium market, led by large-sized Mini LED TVs based on LCD technology, appears to be yielding results. At CES 2024 held in Las Vegas, USA, in January, TCL showcased the world's largest 115-inch QD Mini LED TV, and Hisense exhibited a 110-inch Mini LED TV, demonstrating their technological capabilities.
A Counterpoint Research official noted, "Chinese companies are already leading the market in standard LCDs and are also focusing on the premium TV segment previously dominated by Korean and Japanese companies. They are improving profitability through product portfolio adjustments and expanding their presence across all regions by enhancing brand image."
China is increasing its influence not only in the premium product segment but also in the global TV market. Samsung Electronics maintained its number one position with a 15% global TV market share in the third quarter, but Hisense and TCL closely followed with 12% market shares each. In the second quarter, the two Chinese companies recorded market shares of 10% and 11% respectively. LG Electronics, which held a 9% market share in the second quarter, has recovered to the 10% range with a 1 percentage point increase due to strong sales in the European market, tightening the competition.
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