Global TV Shipments Decline By 3%, China Experiences Growth

- Advertisement -

In India, the 32” smart TV segment leads the market, although its share is declining. The share of larger screen sizes, particularly 55” and above, is increasing. 

In 2023, global TV shipments decreased by 3%, totaling 223 million units, as the strength of the US market was unable to compensate for declines in China and Europe. Samsung Electronics maintained its leading position, while Chinese vendors Hisense and TCL experienced mid-single-digit growth, driven by the expanding North American market.

In 2023, premium TV shipments decreased by 1% annually but increased their market share to 10%, driven by a surge in China, where shipments and revenues grew by 39% and 49%, respectively. The shift towards MiniLED LCD TVs by key Chinese OEMs, along with aggressive pricing and promotions, contributed to the segment’s domestic growth. 

- Advertisement -
Source: Counterpoint Research Global TV Shipment Tracker
Source: Counterpoint Research Global TV Shipment Tracker

In India, smart TV shipments experienced growth on a quarterly basis, driven by preparations for the festive season sale in Q3 2023. The 32” smart TV segment continued to lead the market, although its share is declining, while the share of larger screen sizes, particularly 55” and above, is increasing. 

The online channel’s share rose to 44% during the quarter, fueled by Independence Day sales, multiple promotional events during the cricket’s Asia Cup, and the anticipation of the upcoming World Cup. Xiaomi maintained its lead in the market in Q2 2023, followed by Samsung and LG.

According to Counterpoint research, the global premium TV segment is expected to grow by mid-single digits in 2024, fueled by recovery in the US and Europe. Better performance is anticipated in the premium segment this year, citing increasing screen sizes and ASPs as contributing factors. Recovery in the US and Europe will play a significant role, but the right balance of features and pricing can also drive replacement rates, as seen in China.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“Don’t Let Designations Become A Wild Goose Chase”

0
In his childhood, he possessed just one sweater, meant to last through many winters. He could not join IIT Roorkee because the cost of...

“Capitalise On ‘China Plus Two,’ Where Products With Higher Value Addition Become The Focus”

0
EPIC Foundation aims to transform India into an electronics hardware product nation by collaborating with governments, universities, design houses, and startups. In a conversation...

Exclusive: Electric Two And Three Wheelers In Focus For AMP 2030

0
It seems that the Indian government is going to focus on electric two— and three-wheelers. Taking these beyond Tier 1 and 2 Indian cities...

Buzz

solar panels

Tata Power Solar And Indian Bank Forge Partnership To Propel Residential Solar Adoption

0
This collaboration aims to facilitate easy access to financing for homeowners, setting the stage for a greener future. Tata Power Solar Systems Limited (TPSSL) has...

Honda plans major EV factory construction in Canada,

0
Honda's dedication to this facility reflects its wider ecological objectives, which include a target to only offer zero-emission vehicles by 2040 and to attain...

Scoop: Finayo Plans Rs 100 Cr Financing Fund For EV Dealerships

0
While EV finance is improving in Bharath (Tier 2, 3, 4 cities, and rural India), it is still one of the biggest challenges! Can...

Important Sectors

solar panels

Tata Power Solar And Indian Bank Forge Partnership To Propel Residential Solar Adoption

0
This collaboration aims to facilitate easy access to financing for homeowners, setting the stage for a greener future. Tata Power Solar Systems Limited (TPSSL) has...

Log 9 Enters EV Asset Management Via Amphion

0
Commercial electric vehicle asset management and finance is becoming one of India's biggest emerging business opportunities. Here's Log 9 joining the segment! Log 9 has...

Honda plans major EV factory construction in Canada,

0
Honda's dedication to this facility reflects its wider ecological objectives, which include a target to only offer zero-emission vehicles by 2040 and to attain...

Scoop: Finayo Plans Rs 100 Cr Financing Fund For EV Dealerships

0
While EV finance is improving in Bharath (Tier 2, 3, 4 cities, and rural India), it is still one of the biggest challenges! Can...

Macquarie Group To Invest $1.5 Billion In Indian Fleet Electrification With Vertelo Launch

0
Vertelo has entered into a long-term lease agreement with Tata Motors, committing to purchase up to 2000 electric cars within the next three years....

Manufacturing

Honda plans major EV factory construction in Canada,

0
Honda's dedication to this facility reflects its wider ecological objectives, which include a target to only offer zero-emission vehicles by 2040 and to attain...
Sona Comstar

Sona Comstar Launches Mexico Plant For North American EV Demand

0
The new facility, established to address the increasing demand for premium driveline solutions for BEVs in North America, will focus on manufacturing differential assemblies...

Sterling Tools Inks MoU With Yongin For EV Components Facility

0
Sterling Tools announced that this strategic partnership is anticipated to bring in Rs 250 crore in business over the next five years. This collaboration...

Tata Elxsi-Renesas MCU Boosts EV Cost Efficiency And Market Speed

0
The Motor Control Unit's modular, scalable design facilitates integration across various EV applications, reducing time to market by 40%, lowering design and development costs...

Ramkrishna Forgings To Supply Powertrain Parts To Top US Electric Carmaker

0
Indian producer of rolled, forged, and machined products enter the US electric vehicle market for the first time. Ramkrishna Forgings, an Indian supplier of rolled,...