Over the last few years we have seen how manufacturers such as Samsung, LG or Sony dominate the Smart TV market, especially when it comes to premium class televisions. But Chinese manufacturers gradually made more progress and today Brands like TCL and Hisense are standing up to established companies like the ones mentioned.

It is no coincidence that we are talking about TCL or Hisense instead of other Asian manufacturers. The first is to retain a large percentage of the entire LCD panel television business, even cooperating with Samsung or LG to manufacture and distribute the panels. Today, Both manufacturers have a very high market shareIt competes head-to-head with Samsung and LG.

The rise of Asian manufacturers in premium televisions

In the third quarter of 2024, Samsung’s premium TV market share decreased significantly. Market share from 43% will increase to 30% in the third quarter of 2024According to a market research conducted by Counterpoint Research.

LG’s market share in this segment also dropped significantly, falling from 20% to just 16% in the same period. As seen in the report; The big winners were manufacturers Hisense and TCLPositioning themselves as the second and third brand (above LG) in terms of total distribution of premium class televisions in 2024.

Premium TV market share between Q3 2023 and Q3 2024. Image: Counterpoint Research

Although they already held this position, the quota for this last third has been increased significantly. According to data from Counterpoint Research, Hisense’s share increased from 14% in the third quarter of 2023 to 24% this year, while TCL’s share increased from 11% to 17%.

“Chinese companies already lead the standard LCD market and are now focusing on the premium TV group dominated by Korean and Japanese companies. They increase their profits by expanding their presence in all regions by adjusting their product portfolio and improving their brand image,” said Lee Je-hyeok, a researcher at Counterpoint Research.

Counterpoint research defines the premium television segment as paneled Smart TVs OLED, QD-OLED, miniLED LCD, MicroLED, 8K LCD and QD-LCD. This last group of televisions refers to the traditional quantum dot LCD panels that Samsung offers with its Q60, Q70, The Frame and similar models. There is some debate on this point, because this group of televisions is not generally classified as ‘premium’; This could further reduce Samsung’s market share if this group of televisions are not included in this definition.

Global television market share in Q3 2024. Image: Counterpoint Research

In this sense, Hisense and TCL stepped in to contribute to the growth of the company. 102% in miniLED LCD panel television sales. Additionally, according to Omdia data, TCL has surpassed Samsung in the market for large diagonal TVs (above 80 inches). We had the opportunity to experience this firsthand by being in front of TCL’s massive 115-inch X955 MAX and learning about its strategy to continue introducing this market.

LG’s sales are mainly reflected in the OLED market, as the manufacturer does not have a significant impact on the miniLED television market. Moreover, Samsung continues to grow in OLED With the QD-OLED panels they have been introducing to the market since 2022 to compete with the panels supplied by LG.

The desire for increasingly larger televisions and the impact of miniLED technology compared to others (larger local dimming areas and qualities close to the performance of OLED panels) are factors that enable Hisense and TCL to continue to thrive in this market. future.

via | Flat PanelsHD

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