This Year’s TV Market Down 8.6% Compared to Last Year, Premium TVs Perform Well

[Asia Economy Reporter Changhwan Lee] This year, the global TV market size is expected to shrink compared to last year due to the impact of the novel coronavirus infection (COVID-19). However, as consumers spend more time at home, demand for ultra-large premium TVs at the highest price range is expected to increase.

According to the global TV market forecast by market research firm Omdia on the 23rd, the total expected TV market size this year is about 203.76 million units, down approximately 8.6% from 222.91 million units last year. For next year, it is forecasted to be 218.28 million units, indicating a slight market size increase compared to this year.

The contraction of the TV market this year is due to a sharp decline in consumption caused by the spread of COVID-19. The sales networks in the US and Europe were disrupted by COVID-19, making it difficult to properly sell TVs. Additionally, the cancellation of major sporting events such as the Olympics and Euro 2020, which were scheduled for this year, is also analyzed to have had some impact.

However, even amid COVID-19, sales of premium products such as ultra-large TVs over 75 inches and 8K ultra-high-definition TVs are expected to continue increasing. In the second quarter of this year, shipments of TVs over 75 inches are predicted to reach 1.024 million units, a 34.2% increase compared to 761,000 units last year. During the same period, 8K TV shipments are expected to be 43,000 units, up 34% from 32,000 units last year.

On an annual basis, shipments of TVs over 75 inches are forecasted to reach 4.92 million units, a 17% increase from 4.21 million units last year, and 8K TVs are expected to grow 110% to 250,000 units from 119,000 units last year.

The industry views that despite the market stagnation caused by COVID-19, consumers spending more time at home have a growing desire to purchase ultra-large premium TVs, resulting in partial growth in the premium market.

Samsung 8K QLED TV

In particular, QLED (Quantum Dot Light Emitting Diode) TVs, led by Samsung, are forecasted to reach 1.57 million units in the second quarter this year, a 31% increase compared to 1.2 million units in the same period last year. The annual forecast also expects QLED TV shipments to grow 34% year-on-year to 7.98 million units.

However, OLED (Organic Light Emitting Diode) TVs are expected to decline by about 11% in the second quarter this year to 540,000 units, compared to 610,000 units in the second quarter last year. The stagnation in the OLED TV market is known to be caused by issues in OLED panel supply.

An industry official said, "The trend of consumers spending more time at home wanting to purchase ultra-large premium TVs such as QLED is positive," but added, "There are still many uncertainties, so it remains to be seen whether the market will improve in the long term."

This content was produced with the assistance of AI translation services.