TCL has shot to second place in the premium TV market a move that sees LG Electronics and their OLED TVs pushed out of the coveted slot with consumers choosing a new form of display technology from Chinese brands.

Since 2018, TCL has been dedicated to developing Mini LED technology, and after three generations of technological innovation, the Company that is moving away from OEM manufacturing to concentrate on their own TCL branded TVs has become a pioneer and leader in the Mini LED TV industry.

According to the latest market data comes from Counterpoint Research both TCL and Hisense have stripped share away from LG and Samsung.

In Australia and elsewhere demand for premium TV’s is growing despite the overall global market only growing 2%.

Counterpoint Research reveals that premium TV sales increased by 51%, with TCL becoming the second-largest seller of premium TVs for the first time.

Also revealed is the surge of Chinese powerhouse brands Hisense and TCL who are continuing to capture market share from South Korean giants LG and Samsung, who have been leaders in the premium TV market for decades.

LG was surpassed by TCL in 2022, and Hisense the following year.

In Q4 2024 Samsung was still the market leader with LG Electronics now in fourth spot behind TCL and Hisense.

“Shipments of premium TV models, consisting of QD-MiniLED, QD-LCD, NanoCell, LCD 8K, QD-OLED, WOLED and MicroLED TVs, grew 51% YoY to reach a record high. For the full year 2024, the shipments were up 38% YoY,” wrote Counterpoint Research.

“As Chinese brands intensified their attacks on the premium market, which is expected to show high growth, Samsung’s market share fell to 29%, down 12 percentage points YoY. On the other hand, TCL shipped more than twice as many premium TVs YoY, surpassing LG to take second place in the premium market.” claims Counterpoint analyst Calvin Lee.

According to researchers MiniLED LCD TVs are growing rapidly, increasing by more than 170% year-over-year, with retailers in Australia telling ChannelNews that their core focuses this year is generating profits with Chinese brands TCL and Hisense key to their growth.

We have also been told that both Harvey Norman and The Good Guys are looking to push German TV brand Loewe in the premium market.

Last Week Sony laid off people in their consumer division with The Good Guys recently advised that they had lost their key Sony account Manager.

According to internal Sony Australia sources Sony will only invest in marketing this year during the peak Black Friday sales period as they struggle to compete on price in a market being driven by discounting.