Korean Media: China’s TV Brands Strengthen Global Leadership, Outpacing South Korea in Sales
On September 23, the Korean media outlet *Korea Economic Daily* published an article noting that the gap between South Korea and China in the television market has widened further. In the first half of this year, combined shipments of TCL and Hisense TVs exceeded those of Samsung Electronics and LG Electronics by 4.1 million units. Given that the first-quarter difference was approximately 800,000 units, this indicates the second-quarter gap nearly quadrupled.
Since the second quarter of last year, TCL and Hisense have surpassed Samsung and LG for five consecutive quarters. While Samsung and LG still lead in the high-end segment, their advantage is narrowing.
Data from market research firm TrendForce shows that Samsung Electronics shipped 17.6 million TVs in the first half of the year, ranking first globally, while LG Electronics shipped 11.3 million units, placing fourth. Combined, the two South Korean firms accounted for 28.9 million units.
During the same period, TCL shipped 15.08 million units, and Hisense shipped 14.23 million units. Together, the two Chinese companies delivered 29.31 million units—410,000 more than Samsung and LG combined. Although Samsung remains the top single company in terms of volume, when aggregating the top two players from each country, China’s total shipments now exceed those of South Korea.
If Xiaomi’s 4.685 million units shipped in the first half are included—placing it fifth—the cumulative gap expands to over 5 million units.
The gap narrowed slightly in the first quarter but widened again in the second. In Q1, Samsung and LG shipped 9 million and 5.7 million units respectively, totaling 14.7 million. TCL shipped 7.68 million units, and Hisense 7.1 million, for a combined total of 14.78 million—80,000 more than Samsung and LG.
In Q2, Samsung and LG shipped 8.6 million and 5.6 million units respectively, totaling 14.2 million. TCL and Hisense shipped 7.4 million and 7.13 million units, respectively, reaching a combined total of 14.53 million. The lead for the two Chinese manufacturers grew to 330,000 units.
Since the second quarter of last year, the combined shipment volume of TCL and Hisense has exceeded that of Samsung and LG for five consecutive quarters. The gap stood at around 790,000 units in Q2 last year, 700,000 in Q3, and 830,000 in Q4. It narrowed to 80,000 units in the first quarter of this year but expanded again to 330,000 units in the second quarter.
Total global TV shipments in the first half of the year reached 93.74 million units, a 1.3% increase compared to the same period last year—the highest level since the onset of the pandemic. First-quarter shipments totaled 47.12 million units, followed by a 1.1% sequential decline to 46.62 million units in the second quarter.
All four leading companies registered growth. Samsung Electronics saw a 6.3% year-on-year increase in shipments. TCL recorded the highest growth rate at 7.1%. Hisense and LG Electronics achieved increases of 3% and 3.9%, respectively.
Despite the rise in first-half shipments, full-year market size is expected to contract. TrendForce forecasts global TV shipments for 2024 will reach 194.65 million units, a 0.8% decrease compared to 2023.
Original source: toutiao.com/article/1877123108361290/
Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the position of any official entity.