With a global economic situation still gloomy (global economic difficulties linked to the war in Ukraine, risk of conflagration in the Middle East, risk of confrontation in South America between Venezuela and Guyana, latent risk between China and Taiwan ), TrendForce anticipates a drop in TV sales of 2.1% for 2023. To land in volume at 197 million units.
Zoom in on the Top 4 of the global TV market
The Top 4 TV sellers on the planet are made up, in descending order, of Samsung, Hisense, TCL and LG. The ranking is not yet fixed for second place, Hisense and TCL being very close to each other in volume. We will have to wait until the beginning of 2024, once all the information has been collected to confirm, or not, the position of one or the other.
Precisely, on the figures side, Samsung should close the year 2023 with a total of 36.3 million televisions sold, down 9.8%. For its part, Hisense should post 27 million units, up 12.4%, 26.2 million for TCL, up 16.3%. Last of the Top 4, LG should count 22.91 million copies, down 7.4%. We see, in summary, Korean brands are experiencing a decline in their sales while Chinese brands are, on the contrary, experiencing growth in their sales.
Zoom on the leader Samsung
Looking in more detail at the figures, we notice that Samsung is suffering on its 8K TV, Mini LED and QLED series, while the QD Oled series is seeing its sales explode. Obviously this situation is found at Samsung Display, supplier of QD Oled panels, which sees the supply of the latter increase by 153% to 890,000 units. Ultimately, Samsung's 2023 TV market share should stand at 18.5%, an erosion of 1.2% compared to last year.
Zoom on the challengers Hisense and TCL
Market shares for Hisense and TCL are expected, respectively at 13.7% and 13.3%, growth mainly due to an aggressive commercial strategy with screens offered at more affordable prices on the one hand, to a establishment of some of their factories outside China for optimized logistics on the other hand.
Focus on the decline of LG
Even if the decline in LG's market share is less than that of Samsung, LG is the brand that suffers the most within the Top 4. The decline of Samsung, considering a significantly larger initial market share, remains less worrying. LG is experiencing a sharp contraction in the Oled TV market, the heart of the LG nuclear reactor. The fault is the high prices of these screens, the price competition from Mini LED specimens (TCL in the lead), and the new and strong competition in terms of performance from QD Oled models.
