China’s TCL ranked second in global TV shipments for the first time, according to research firm Omdia, despite overall global TV shipments down 4.8% in 2022.
The top five looks like this today: Samsung for the 17th year in a row ranked first in terms of sales in pieces with a market share of 19.6%, TCL – second with a share of 11.7%, LG – third with 11.69%, fourth – Hisense with 10.5% and fifth – Xiaomi with 6.2%. That is, now three of the five leading places belong to Chinese manufacturers.
If you look at the situation in dynamics, the alignment will be even more dramatic. TCL’s advantage over LG Electronics began to emerge as early as the third quarter of 2022, with TCL’s share in that period standing at 12.6%, surpassing LG’s 11.5% for the first time. In the fourth quarter, TCL (11.8%) also ranked second, Hisense moved to third with 11.6%, and LG Electronics dropped to fourth with 11.0%.
The rapid growth of Chinese TV brands, including TCL, is closely linked to the downturn in the global TV market. Global TV shipments in 2022 were 203.26 million units, down 4.8% from 213.54 million units in 2021. Sales fell in major markets such as North America, while emerging markets like China, South America and Africa, where low-cost and mid-range TVs sell well, have risen.
However, in terms of revenue, unlike boxed sales, LG remained ahead of TCL in 2022. Samsung ranked first with a 29.7% share, LG second with 16.7%, and TCL third with a 9.4% revenue share. This is because Samsung and LG sell a higher percentage of premium models, such as OLED TVs and LCD TVs with FALD and miniLED backlighting, than TCL, which has a minimal share of such models.
