Global TV Demand Shrinking
Samsung Electronics’ share of the premium TV market is on the wane amid a decline in global TV demand.
Premium TVs sold worldwide in the third quarter of this year stood at 5.1 million units, up 8 percent from the same period of 2021, said Display Supply Chain Consultants (DSCC), a market researcher specializing in displays, on Nov. 29.
DSCC’s premium TV category includes W-OLED TVs produced by LG Electronics, QD-OLED TVs from Samsung Electronics and Sony, and those with high-grade LCDs including mini LEDs.
TV shipments and sales sank in North America and Europe, the main markets for premium TVs. On the other hand, TV shipments and sales soared in other regions. In particular, premium TV shipments and sales in China climbed by 47 percent and 25 percent, respectively. In the Asia-Pacific region, premium TV shipments and sales rose by 24 percent and 11 percent, respectively.
As premium TV sales differed by region, major TV makers showed mixed results in TV shipments and sales. Samsung Electronics saw a 70 percent decrease in its premium TV shipments in the third quarter compared to the same period of last year and a 14 percent decrease in sales. Its market share in terms of sales revenue also slid to 37 percent.
On the other hand, Samsung’s followers made an improvement in performance. LG Electronics’ TV shipments grew by 14 percent compared to the same period of 2021. The company's TV sales jumped 10 percent, boosting its market share to 27 percent. Sony also recorded a 14 percent market share in terms of sales revenue, with shipments rising 48 percent from the same period of last year.
In particular, Chinese TV makers, which are highly dependent on their domestic market, made remarkable progress. In the Chinese TV market, Hisense came in first in shipments with a 22 percent market share, overtaking TCL and Huawei. In terms of sales revenue, TCL placed first by posting a year-on-year sales increase of 23 percent.