Hisense TV Expected to Surpass Samsung Next Year... Warning of Weakened Competitiveness in Korean Industry

Korean Industry's Competitiveness Weakens Amid Chinese Government Support
China Achieves Majority Share in Smartphone and Foldable OLED Markets for the First Time
Domestic Companies Respond with OLED Price Cuts and MicroLED Expansion

There is an analysis suggesting that next year, TV shipments from China’s Hisense could surpass those of Samsung Electronics. China has gained a competitive edge through government support, low labor costs, and long working hours, while South Korea is at a disadvantage due to high labor costs, shorter working hours, and a small domestic market.

At the 'Display Strategy Seminar for 2026 Preparation' held at the Science and Technology Convention Center in Gangnam-gu, Seoul on the 5th, Lee Choonghoon, CEO of UBI Research, stated, "The competitiveness of the display industry is directly linked to set manufacturers like Samsung Electronics and LG Electronics," adding, "There are projections that Hisense will overtake Samsung Electronics in 2026, and TCL will surpass them by 2028." In fact, in 2023, Hisense and TCL overtook LG Electronics in TV shipments, ranking second and third, respectively.

Since last year, the Chinese government has been supporting display and set manufacturers through a large-scale replacement program. In the second half of last year, approximately 28 trillion won was invested, and this year, the program will be expanded to include smartphones and IT devices, with plans to provide about 56 trillion won in support.

CEO Lee emphasized, "Korean companies are essentially competing against the Chinese government," and added, "China has the upper hand in every aspect, including policy support, domestic market, cost, and labor environment, whereas Korea is at a disadvantage."

It is also expected that this year, China will account for more than half of global shipments in the smartphone and foldable OLED markets for the first time. According to UBI Research, China is projected to achieve a 52% market share this year, surpassing Korea's 48%, and its revenue share is expected to expand to 46.1% by 2029. During the same period, Korea’s share is expected to decline to 53.9%.

Han Changwook, Vice President of UBI Research, explained, "Shipments of small OLEDs will increase from about 1 billion units this year to 1.2 billion units by 2029," and added, "Although panels for tablet PCs will drive growth in the medium-to-large OLED market, there is no clear growth trend for TV panels."

The domestic display industry is responding to falling OLED prices and the spread of microLED technology. Lee Choonghoon, CEO of UBI Research, said, "With the end of large OLED depreciation at LG Display, the expansion of OLED TVs by Samsung, and the launch of RGB microLEDs, price competitiveness will improve," adding, "Samsung and LG are taking the lead to prevent the expansion of China’s premium TV market."