In the global market, China's TV shipments have surpassed South Korea for the first time, and the revenue gap with South Korea is rapidly narrowing as it fiercely pursues.
According to market research firm Omdia on the 23rd, the combined market share of Chinese TV brands TCL, Hisense, and Xiaomi based on last year's shipment volume was 31.3%, surpassing the market share of Samsung Electronics and LG Electronics at 28.4%. The market share of Chinese brands rose from 24.4% in 2020 to 26.3% in 2021, 28.4% in 2022, and 29.6% in 2023, exceeding 30% for the first time last year.
During the same period, South Korea's market share decreased from 33.4% in 2020 to 32.6% in 2021, 31.3% in 2022, and 29.8% in 2023.
With the volume offensive, China's revenue share is also rising rapidly. In terms of revenue, Samsung Electronics ranked first in the overall TV market for the 19th consecutive year last year, while LG Electronics topped the OLED TV market for the 12th consecutive year, but the gap with China has narrowed.
Looking at the overall market revenue share, Samsung Electronics decreased from 31.9% in 2020 to 28.3% in 2024, while LG Electronics dropped from 16.5% to 16.1%. TCL, which is closely chasing South Korea, rose from 7.4% to 12.4%. Hisense also recorded a market share of 10.5% last year, rising to the 10% range.
As a result, the market shares of South Korea (Samsung Electronics, LG Electronics) and China (TCL, Hisense) narrowed from 48.4% to 13.5% in 2020 to 44.4% to 22.9% last year.
China is particularly showing an upward trend in the ultra-large TV market of 75 inches and above. In this market, Samsung Electronics remains first (28.7%) and LG Electronics second (15.1%), but the market share of both companies has declined in the past five years. In contrast, TCL and Hisense raised their shares from 5.1% and 4.2% in 2020 to 15.0% and 14.6%, respectively, solidifying their positions.
In the premium market priced at over $2,500, Samsung Electronics and LG Electronics maintained strong competitiveness. Samsung Electronics, ranked first, held nearly half of the market share at 49.6%, while LG Electronics secured second place with 30.2%. TCL and Hisense had market shares of 1.6% and 0.9%, respectively.