"Global TV Shipments Expected to Hit 10-Year Low This Year... LG OLED TV Also Likely to Decline by 2.7%"

TrendForce Analysis Report... "Demand Contraction Due to Inflation"

[Asia Economy Reporter Moon Chaeseok] As consumer demand declines due to inflation and economic recession, global TV shipments this year are expected to drop to the lowest level in the past decade. With sluggish sales of organic light-emitting diode (OLED) TVs in Europe, a major market for Samsung Electronics and LG Electronics, LG Electronics, the industry leader, is expected to see a contraction in its OLED TV shipments this year.

According to TrendForce, a Taiwanese market research firm, global TV shipments in the third quarter of this year are estimated at 51.39 million units, down 12.4% from the previous quarter. This is a 2.1% decrease compared to the same period last year.

TrendForce analyzed that inflation is affecting the world, causing consumers to tighten their wallets.

Thanks to large-scale promotions by TV brands, the shipment forecast for the fourth quarter is 56.96 million units, an increase of 10.8% from the third quarter. However, the fourth quarter forecast is still 3.5% lower than the same period last year.

Global TV shipments this year are expected to reach 220 million units, a 3.8% decrease from last year, marking the lowest level in 10 years. This is due to overlapping negative factors such as the Russia-Ukraine war, inflation, and interest rate hikes.

TrendForce also predicted that the TV market will continue to experience a decline in shipments next year, forecasting 201 million units, a 0.7% decrease from this year. In particular, TrendForce expects TV shipments in Europe to decline by 12.5% this year.

High-quality OLED TVs are no exception. TrendForce forecasts that global OLED TV shipments this year will reach 6.67 million units, a 0.6% decrease from last year.

TrendForce stated, "Since compiling related statistics in 2016, this is the first time that the growth trend of OLED TV shipments in Europe has stopped," adding, "Facing strong headwinds in OLED TV demand, LG Electronics, the industry leader, is expected to see its OLED TV shipments (4.04 million units) decrease by 2.7% compared to last year for the first time."

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