8K TV Market Expected To Enjoy Explosive Growth This Year

The 8K TV market is expected to bloom this year as demand for the industry’s highest resolution TV is growing explosively. In the Korean TV market, after Samsung Electronics’ first salvo in November of last year, full-scale competition began as LG Electronics launched an 88-inch 8K organic light emitting diode (OLED) TV this year. The 8K TV market offers a new opportunity for display companies as well as TV manufacturers. Currently, Samsung Display is holding a 59.7 percent share of the 8K display market.

Market researcher IHS Markets predicted on June 12 that the 8K TV display market would shoot up 807 percent to 345,000 units this year from 38,000 units last year. In terms of sales volume, 8K TV sales are expected to surge to US$247 million this year from US$27 million last year. 8K display panel shipments are expected to increase nearly ten-fold from 38,300 units last year to 345,700 units this year.

“Major TV makers are launching 8K TV models one after another, expediting the growth of the 8K display market,” a TV industry observer said. “In the 8K display market, liquid crystal displays (LCDs) are still the mainstream.” In fact, this year’s 8K LCD TV panel shipments would reach 340,000 units, while 8K OLED TV panel shipments would be limited to around 5,000 units, the observer added.

While only 88-inch models are expected to go on sale among 8K OLED TVs this year, 8K LCD TVs are already available in various sizes from 55 inches to 98 inches. IHS Markit says that OLED panel prices are 1.5 times higher than LCD panel prices.

8K TVs may become good news to Korean display companies, which are hit by a slump in the display market. The entire LCD market is saturated with oversupply, but the 8K market is close to being a “blue ocean” market. Currently, Samsung Display and LG Display of Korea, Innolux, AUO and Sharp of Taiwan are the only 8K display markers. Samsung Display ranked first in market share by shipping 22,000 units in the first quarter of this year, followed by Sharp with 13,000 units.―Business Korea

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