South Korean media: China has risen to the top of high-end TVs, and South Korea's dominance is beginning to waver!
On July 16, the South Korean media "Herald Economic" published an article stating that the global TV market's leadership shifted to China last year, and China's attacks are becoming increasingly fierce in the high-end market where South Korean companies had an advantage.
As Chinese companies that launched high-priced LCD TVs saw a significant increase in shipments, the gap between Chinese and South Korean companies is rapidly narrowing. Analysts believe that the leadership of the high-end TV market may also fall into the hands of Chinese companies.
According to market research company Counterpoint Research, over the past year, the premium market share (calculated by shipment volume) of China's top two TV brands, Hisense and TCL, has significantly increased.
Hisense's premium TV market share rose from 14% in the first quarter of last year to 20% in the first quarter of this year, while TCL's market share also increased from 13% to 19% during the same period.
The rise in market share of China's two major brands directly weakened the dominant position of South Korean companies. According to a report from Counterpoint Research, Samsung Electronics' market share fell from 39% in the first quarter of last year to 28% in the first quarter of this year. LG Electronics' market share also dropped from 23% to 16% during the same period.
Combined, Samsung Electronics and LG Electronics hold 44% of the market, still leading China's two giants with 39% of the market, but the gap is gradually narrowing. In the fourth quarter of 2023, the combined market share of the two South Korean companies was 67%, while the market share of China's two giants was 22%.
For a long time, Chinese products have been known for their "good value for money." Now, through their influence in the high-end TV market, which has relatively higher prices, China is surpassing South Korea. The "trade-in" policy implemented by China last year also led to an increase in demand for TV upgrades, which also affected the Chinese TV market.
Analysts say that China has already surpassed South Korea in the overall TV market. According to data from market research company Omdia, the combined shipment share of TCL, Hisense, and Xiaomi from China in the global TV market was 31.3% last year, exceeding the combined share of Samsung Electronics and LG Electronics at 28.4%.
The high-end TV market consists of Mini LED TVs and OLED TVs. South Korean companies dominate the OLED TV market, which requires more advanced technology than Mini LED TVs. China focuses on the Mini LED TV market, which has relatively lower costs.
Original article: https://www.toutiao.com/article/1837769176561676/
Statement: The article represents the views of the author.