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Mini LED backlight TV shipment for 2021 projected to reach three million units

For the past two years, brands such as Samsung, LG, TCL, and Xiaomi have successively released their own Mini LED backlight TVs, which are expected to reach a yearly shipment of about 2.6-3 million units in 2021 because Korean brands have successfully trailblazed the high-end market, and because Chinese brands have also been ramping up shipment via highly cost-effective models, according to TrendForce’s latest investigations.

TrendForce’s analysis of the current TV market indicates that OLED models have become synonymous with high-end TVs due to the former’s high color saturation and high contrast ratios, both of which produce high-quality images favored by consumers. However, LG Display is the sole supplier of OLED TV panels, and retail prices of OLED TV sets have shown no signs of weakening. Hence, TV brands have in turn transitioned their offerings to Mini LED backlight TVs, which likewise boast advantages of high brightness and high contrast ratios. Not only have OLED TVs and Mini LED backlight TVs shaped the current competitive landscape of the high-end TV market, but these two products are also expected to set new standards for high-end TV specs going forward.

Samsung’s new Mini LED offerings will help redefine mid-range and high-end market segments against competing OLED TVs
Samsung has officially released its latest Neo QLED products in 2021; these TVs sport a variety of features, including Mini LED backlighting, 55-inch to 85-inch display sizes, 4K and 8K resolutions, 8,000-30,000 Mini LED chips as a backlight source, 500-2,500 backlight zones, a 1,000,000:1 contrast ratio, and quantum dot technology (which delivers high color saturation). These features allow Samsung to compete on an equal footing with OLED TVs in the high-end segment while quickly increasing the viability of Mini LED backlight TVs.

Chinese brands are set to become considerable growth drivers for Mini LED TVs as they seize market shares with highly cost-effective products
Chinese TV brands TCL and Xiaomi have been cultivating their presence in the Mini LED TV market ahead of Samsung by releasing their own offerings before their Korean competitor. In particular, TCL’s mid-range 6 series features 3,840 Mini LED chips across 240 backlight zones, which allow for greater flexibility in terms of manufacturing costs. For instance, TCL’s 75-inch, 4K UHD 6 series TVs retail for about US$2,000 less than equivalent offerings from Samsung, making TCL’s products much more attractive for early adopters on a budget. By leveraging a strategy of offering highly cost-effective products, TCL was able to reach a yearly shipment of 120,000 Mini LED backlight TV sets in 2020. TrendForce expects cost-effective products such as those from TCL to continue to serve a pivotal role in driving the shipment growth of Mini LED backlight TVs in 2021. TrendForce

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