Counterpoint Research's quarterly analysis of the TV manufacturing sector shows a very slight increase in TV shipments for the period from October 1 to December 31, 2024, +2% for 61 million units. The growth is, admittedly, weak but it is still the third consecutive positive quarter of increase. Counterpoint Research estimates the global TV market in 2024 at 230 million units.
TV market Q4 2024: Samsung still the leader ££££
Zooming in on the TV brand rankings, we see that Samsung maintains its leading position with a market share of 16% but is closely followed by TCL with 14%. Hisense climbs on the box with 2% and LG slips to fourth position with 10%. The Top 5 is completed by Xiaomi with 5% market share. All other brands are below this threshold and, together with private labels, represent 43% of volumes sold during 2024.
TV market Q4 2024: focus on premium TV segment££££
“The premium TV segment, which includes Oled, QLED and Mini LED models, has shown particularly strong performance, with growth of 38% for the full year 2024. In this category, Mini LED TVs have experienced explosive growth of over 170% year-on-year, outpacing Oled TV shipments since Q2 2024. QD LCD TVs have also experienced substantial growth of over 46%, exceeding 5 million units in a quarter for the first time,” the report states (see illustration below).
Although Samsung maintains its leading position in the premium market with a 29% share, its dominance is eroding, -12% YoY as Chinese manufacturers have stepped up competition. TCL's premium TV shipments more than doubled YoY, allowing it to overtake LG Electronics for second place with a 20% market share. For the first time in TV market history, in Q4 2024, TCL established itself as the second-largest seller of premium TVs.