Global TV shipments declined 4% YoY in Q1 2024

Monday, May 20th, 2024 
Counterpoint Research logo

Global TV Shipments Declined 4% Y/Y in Q1’24, Samsung Remains Top Player in Both Units and Revenue

  • Global TV shipments declined a slight 4% in Q1’24 compared to the prior year.
  • Samsung tops the market with 16% share in shipments, followed by Hisense and TCL.
  • Premium TV shipments grew 15% Y/Y.
  • Large TVs above 70 inches showed the highest growth rate of 28% Y/Y.

LA JOLLA, CA — Global TV shipments declined 4% Y/Y in the first quarter of 2024 according to the latest research from Counterpoint Research, in collaboration with DSCC. Weakness was seen in all regions, with declines particularly noticeable in China and Japan. The figures are cited from the Global TV Tracker report, which Counterpoint Research co-authored following its acquisition of display specialist firm DSCC.

Global TV Shipments Share - Samsung, Hisense, TCL, LG Electronics, Xiaomi, Others - Q1 2024

Samsung kept its global top spot with 16% market share and was also a top player in most regions as well. It also maintained the top spot in terms of revenue.

Hisense and TCL, each with a 10% market share, took second and third place, respectively, with Hisense exceeding TCL by a narrow margin. LG Electronics ranked 4th in the overall TV market but maintained its solid first place in the OLED TV market with a 49% share.

Associate Director at Counterpoint research Sujeong Lim said, “Although the TV market declined year-on-year in the first quarter of this year, it is an improvement compared to the sharp decline seen in the second half of last year. The upward trend of premium and large-sized TVs continues as we see strong growth in these markets. Samsung Electronics has the upper hand in these markets, so we expect it to benefit the most.”

Advanced TV Shipments Share - Samsung, LG Electronics, TCL, Hisense, Sony Corp., Others - Q1 2024

Shipments of Advanced TVs also surged 15% annually in Q1’24. This premium market comprises advanced products such as QD, OLED, MiniLED and MicroLED TVs. In the advanced TV market, the shipments of MiniLED LCD TVs grew rapidly by 24% Y/Y, driving growth.

Research analyst at DSCC Calvin Lee commented, “MiniLED LCD TVs will continue to be one of the highest growing products within the high-end premium TV market this year.”

Links: Counterpoint Research; DSCC