The TV market in Australia has struggled this year, with both LG and Samsung losing share to Chinese brands, the big winner is TCL who has grown share at the expense of the South Korean brands.
Globally Hisense and TCL were the only brands to grow share with Samsung’s market share falling 9.8%, while LG with their OLED TV’s saw their share fall 7.4%.
In Australia, their fall is sales is significantly higher according to senior management who are about to quit the global manufacturer of OLED TV’s.
According to TrendForce, sales of TV’s will fall below 197 million units this year, with Samsung, Hisense, TCL, and LG taking out the top 4 places.
At CES Samsung is punting on a new Web OS content system to appeal to consumers in 2025, despite both Samsung and LG cranking up their advertising offering wrap around the Samsung Tizen and LG’s Web OS.
Following the covid-19 induced boom, the TV market is experiencing a downturn due to economic uncertainty in Australia with retailers who despite heavy discounting are struggling to grow sales.
According to several research groups the market overall could fall between 2.1 and 4.5% in Australia with Trend Force predicting “small growth” in 2024.
Industry leader Samsung is projected to see almost a 10% decline in TV shipments in 2023, with 8K, miniLED LCD, and “QLED” LCD down.
What is good news for Samsung is that their sales of QD-OLED TVs are experiencing rapid growth reaching 890,000 units, a 153% year-over-year increase.
This has impacted LG Electronics who is forecasting significant falls in shipments in its more established WOLED category and premium OLED categories that have been under pressure this year.
As for innovation TCL is the brand that everyone is set to watch at CES with the Chinese brand who are the #1 manufacturer of TV’s in the world set to launch new models based on their own technology. These TV’s are being offered at significantly cheaper prices than what South Korean brands are selling their TV’s for.
Among the new models from TCL is their high-end miniLED LCD models that include the flagship X955.
Announced in August, TCL is currently rolling out a C805, C955 and X955 range in sizes up to 98 inches, in addition to the current 98-inch P745.
These will be some of the most advanced miniLED LCD TVs on the market, with up to 5184 dimming zones and up to 5000 nits, according to TCL, although this is reserved for the flagship X955.
A senior TCL executive in Europe said when asked about Samsung’s latest offering and TCL’s new TV’s “Neo QLED” miniLED LCD TVs, in particular, should start looking very seriously at TCL. With 5184 zones, miniLED is starting to reveal its strength, and TCL’s miniLED LCD TVs are available at significantly lower prices.
