TV sales in Australia have fallen significantly during the past 12 months according to CE retailers, with Chinese brands TCL and Hisense gaining share both locally and internationally.
While Samsung Electronics maintained its No. 1 position globally in the TV market, LG Electronics has been pushed into fourth spot globally according to Counterpoint Research.
Chinese brands TCL and Hisense are now taking OLED market share away from the South Korean brand who are relying on LG European TV sales, to bolster their global market share.
Counterpoint claim that the global TV market grew for the first time in four quarters in the second quarter of 2024 due to the Paris Olympic Games, shipments reached 56 million units in the second quarter of 2024, up 3 percent on-year. 
Samsung was #1 with 15% share of total shipments, which was the lowest sales quarter for the Company in 12 months.
Chinese TV supplier TCL came in No. 2 with 11% Hisense, followed with 10% while LG Electronics came in fourth with 9%.
LG who are now making hundreds of millions of dollars in profits, selling viewing and lifestyle data about their customers to third parties are facing new pressures due to rising OLED production costs at their LG Display subsidiary who are struggling to compete with new Chinese OLED manufacturers.
In addition, Samsung who is now selling OLED TVs has started to strip premium OLED market share away from arch rival LG.
Currently Chinese rivals are aggressively carving out market share from Korean TV manufacturers with both TCL and Hisense set to use IFA 2024 to launch new TVs featuring a new generation of OLED display technology.
During the last two quarters shipments of premium TVs jumped by 45 percent on-year, also fuelled by the Olympics fever.
Samsung came out on top in the premium TV market with 33%. LG had 18% with Chinese brands taking share away from both South Korean brands.
For Samsung, it was the first time that its share in the premium segment had dropped below 40 percent.
Hisense is now on par with LG at 18% in the premium market while TCL has 15%.
Shipments of OLED TVs grew 21 percent on-year in the second quarter.
At IFA LG is expected to reveal a new TV using artificial intelligence that allows the Company to capture additional data on consumers who use their TVs and appliances.
When it came to revenue Samsung topped the global TV market, taking 28.8% percent of all revenue generated.
Late last night Samsung claimed that the Company will stick to its sales strategy to focus on AI TVs, high-value-added TVs priced at over $2,500 and large-screen TVs.
LG reckons their future is next-generation products with transparent screens, bendable screens and wireless TVs, there was no mention of their see through TV which is yet to appear in market or their failed $100,000+ pop up TV which the Company has been forced to discontinue due to poor sales and rising warranty claims.
