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Global TV shipments expected to fall this year

Market research firm Omdia said on May 8 that this year’s global TV shipments are estimated at 211.639 million units, the smallest since 2010 and about 1.89 million units less than last year’s.

This is because COVID-19 is subsiding and inflation is continuing in the United States and Europe. The Q1 demand in North America, Europe and China already fell 20 percent or so from a year ago.

Still, the OLED TV demand is expected to keep rising. “This year, the global OLED TV shipments are expected to increase 23 percent to eight million units,” the firm said, adding, “The market share of the product in terms of shipments is estimated at 4 percent this year, much lower than 96 percent of LCD TVs, and yet the share in terms of sales is expected to rise to 12.8 percent after having topped 10 percent for the first time last year.”

The LCD TV demand is likely to decrease. This is because South Korean suppliers’ presence is decreasing and product prices are falling as Chinese companies are rapidly increasing their supply in the LCD TV panel market.

Major TV manufacturers are already reducing their LCD panel orders. For example, Samsung Electronics and LG Electronics reduced their orders in late March and Chinese companies are likely to do so in this quarter. The panel suppliers including Samsung Display and LG Display are also downsizing their LCD TV panel business as falling panel prices are affecting their profitability.

In other words, the focus of the market is shifting towards OLED from LCD. In the OLED TV market, LG Electronics’ current market share amounts to 99 percent and Samsung Electronics is about to enter the North American and European markets with its quantum dot OLED TVs. Sony will initiate its quantum dot OLED TV marketing in the United States next month and Chinese companies are yet to enter the mass production stage. Business Korea

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