Promotional Efforts Driving Growth In Global TV Shipments
Global TV shipments edged up 1.5% on year to 19.36 million units in August, as shipment growths in emerging markets including Latin America, India and Asia Pacific were offset by a 7% on-year decline in China, according to new data.
According to All View Cloud’s (AVC) report, promotional efforts by major brands like Samsung and LG boosted TV shipments 18.7% on year in August in Latin America, 5.9% in Asia Pacific, and 1.4% in North America.
Samsung’s overall TV shipments climbed 17.3% on year in August, driven by a 20% shipment growth in Latin America and an average of 15% growth in Europe, North America and Asia Pacific.
Shipments of Samsung’s 55-inch and above TVs grew 4.7% in August and accounted for 40% of its total TV shipments in the month.
LG also saw over 20% on-year shipment growth in the month, despite mounting pressure after Samsung reduced the prices of its QLED TV range.
On the flip side, most major Chinese TV brands suffered on-year declines, with AVC noting that shipments at TCL dropped 6%, Haier’s fell 11%, Changhong’s decreased 28% and Konka’s declined 14%, while Xiaomi and Skyworth saw minor gains.
In addition, another report by Digitimes Research estimates global shipments to stay flat at 217 million units in 2019, as compared to a year earlier, and will grow by a CAGR of 1.1% in a five-year forecast period to 231 million units in 2024.