Global TV Shipments Decline in 2023; Uncertain Outlook for 2024

According to TrendForce’s latest research, global TV shipments are set to decrease to 197 million units in 2023, experiencing a year-on-year decline of 2.1%. Despite quarter-on-quarter growth throughout the year, the traditional peak Q4 season recorded the lowest growth momentum and shipment volumes in nearly a decade, with just 54.55 million units shipped—a 1.7% decline YoY.

Several factors contribute to the decline, including constrained consumer budgets due to the high-interest-rate environment in Europe and the US, and a real estate bubble in China suppressing TV demand. Additionally, a significant increase in TV panel prices prompted brands to scale down promotional events, further impacting global TV shipments.

Samsung Electronics retains its lead in TV shipments with an estimated 36.3 million units, despite a 9.8% decrease YoY. Hisense and TCL emerge as significant winners, achieving shipments of 27 million and 26.2 million units, up 12.4% and 16.3% YoY, respectively, through low-cost export market strategies and localized production.

Looking ahead to 2024, TV manufacturers aim to improve profitability by focusing on large-sized products and phasing out loss-making models. The Paris Olympics and UEFA Euro 2024 are expected to support a slight growth of 0.2% in global TV shipments to 197 million units. However, panel makers’ production and pricing control strategies pose challenges to generic brands, and there is potential risk for a decline in total TV shipments if global economic conditions worsen due to unforeseen factors.

Scroll to Top