Media Death
The global TV market recorded the worst negative growth in 6 years, stemming from the global economic recession and collapsing emerging market currencies.
According to market research firm IHS Technology on Sept. 13, total TV shipments in the second quarter of this year are estimated at 48 million units, down 8 percent from the previous year. The number is the largest decrease since Q2 2009.
The phenomenon is mainly attributable to weak demand caused by prolonged economic recession, but there are wide variations per region. Emerging markets took a direct hit from skyrocketing exchange rates, which led to worsening price competitiveness. The Latin TV market saw a 17 percent year-on-year reduction in shipments. The Asia Pacific region suffered a 9 percent decrease in shipments, aside from China. Western Europe posted negative growth of 3 percent. Only China grew by around 5 percent.
The global TV market struggled last year, but at least grew about 3 percent. The market is expected to hit hard this year. Only the 4K TV market grew 197 percent year-on-year to reach 6.2 million units in shipments in the last quarter.
Samsung Electronics accounted for 29 percent of the market, and LG Electronics made up 14 percent. Thus, their combined share of the global TV market was 43 percent. It means that more than four out of ten TVs that were sold in the global market were made by Korean companies. Sony constituted 7 percent of the market, followed by Hisense at 6 percent and TCL at 5 percent.