Samsung Global TV Market Share at 16.8%... Gap with China’s TCL Narrows to 2.7%p
In the first quarter of this year, Chinese TV manufacturers rapidly expanded their market share in the global TV market, narrowing the gap with the top player, Samsung Electronics.
According to global market research firm Counterpoint Research on May 29, Samsung Electronics’ TV shipments from January to March grew by 8% compared to the same period last year.
As a result, its market share increased by 0.7 percentage points, from 16.1% in the first quarter of last year to 16.8% in the first quarter of this year.
TCL of China, which ranked second, saw its TV shipments increase by 22% during the same period, raising its market share from 12% to 14.1%.
The market share gap between Samsung Electronics and TCL narrowed from 4.1 percentage points in the first quarter of last year to 2.7 percentage points in the first quarter of this year.
In the first quarter of this year, TCL increased shipments across all TV categories, with Mini LED LCD TVs in particular driving overall growth. Samsung Electronics showed strong growth in the white OLED (W-OLED) segment, but since OLED TV shipments are smaller than those of LCD TVs, this had limited impact on the overall market trend.
Counterpoint Research projected that starting in the second quarter of this year, competition in the TV market would intensify as Samsung Electronics, LG Electronics, TCL, and Hisense accelerate the launch of various TV product lineups.
In addition, TCL finalized the establishment of a joint venture (JV) with Japan’s Sony in March, and with speculation that LG Electronics’ TV division and Hisense could also form a JV, the industry landscape is expected to change further.
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Lee Jaeho, a researcher at Counterpoint Research, said, “If Hisense leverages the know-how of LG Electronics’ TV division, its fourth-ranked market share, and the premium of its existing sales network, it could naturally claim the world’s top spot in TV shipments. By prioritizing the establishment of a joint venture and pursuing collaborative strategies, they can also reduce risks and develop strategic initiatives.”
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