Technological developments often reduce the need for more than one product. Remember when you needed a separate camera, music player, calculator and game console? Now your smartphone does it all. The same thing happens on television. People can buy fewer of these, but when they do, they want larger screens and extremely high quality.

Global TV shipments in 2023 reach decade-low

In 2023, the global TV market continued its decline. Sales fell 1.6% compared to last year. This is the lowest number of TVs sold in the last decade. There are several reasons why this happens. Of course, the first reason for these trends is that people are watching less television. In today’s world, many people prefer digital content platforms that can be accessed from their phones, computers and tablets.

Televisions are now mostly the first choice of users who focus on large screens and high image quality. This is leading to increased demand for resolutions such as 4K and 8K at sizes 49 inches and larger. However, factors such as global inflation also reduce the interest in these expensive models.

While shipments increased year-on-year in North America (7.5%), Latin America (2.3%) and Eastern Europe (3.4%), a significant recovery was seen in the USA. However, other regions experienced year-on-year declines: Asia Pacific (-0.2%), China (-8.4%), Western Europe (-11.5%), Middle East and Africa (-3.0%). It is noteworthy that sales of both new and replacement TVs are slow in all regions. This shows that, despite regional differences, consumer confidence in the television market has weakened in general.

The decline in the Chinese television market intensified in the second half of 2023. In the second half of 2023, the Chinese television market experienced a significant decline, exceeding a monthly decline of more than 10% year-on-year. In the last month of the year, the decline rate exceeded 20 percent. The annual market volume fell below 37 million units, falling to 36.56 million units, the lowest level in the last 10 years.