TV Market Surges Get Set For Steep Price Rises
TCL has witnessed a massive 52% increase in TV sales worldwide but are struggling in Australia due to supply issues with the US market appearing to take precedence over Australia, also coming are steep price rises for TV’s.
Global TV shipments have ‘rocketed’ upwards in Q3, 2020 according to a new TrendForce report as hibernating consumers move to larger screens and upgrade to Ultra High Definition TV’s.
Samsung tops the chart with more than double the shipments while TCL gained a massive YoY increase in the USA, despite this both LG and Samsung is outselling the Chinese TV brand who has seen their TCL sales cannibalised by the cheaper JB Hi Fi house brand Ffalcon which is made by TCL.
Market research Trend Force claims that a total of 62.5 million TV units were shipped globally in Q3 2020.
This is a 38% rise BoQ (Quarter on Quarter), and an improved 12% YoY (Year on Year).
In Countries like North America, the growth is 20% YoY between January-August 2020.
Samsung leads the Global TV shipments with 14.3 million units in Q3, this is more than double the shipments it did in the last quarter.
LG is in second place though it recorded the least YoY growth.
TCL who last year was bragging about their lead in the USA and globally has now been pushed into 3rd spot overall.
Analysts claim that if demand continues to rise in Q4, shipments will increase by another 4% to 64.53 million units.
Total TV shipments in 2020 is tipped to come in at around 216.09 million units, which will be a 0.8% decrease YoY compared to 2019.
Between February and April 2020, the global TV market came to a standstill due to shipping, manufacturing and component supply issues associated with COVID-19 this is believed to have taken 20 Million units out of the market according to Analysts.
The downside is that the price of TV panels rose 50% QoQ for 32-inch HD panels and 41% for 55-inch UHD panels in Q3.
Although companies reportedly swallowed the profits to reach the shipment targets, they will have to adapt to the price hikes in Q4 TrendForce is claiming.
Analysts are tipping price rises of rise 15-20% or more for both 32 & 55-inch panels.