Hisense and TCL teamed up to win 53 of the global Mini LED TV market

Source: Xinzhixun

    On December 23rd, it was reported that in this year‘s Mini LED TV market, China‘s Hisense and TCL are experiencing rapid growth in sales and market share, and the gap between them and the leading manufacturer Samsung Electronics is becoming smaller and smaller. In the high-end TV market in the future, the competition between Korean companies focusing on OLED technology and Chinese TV companies focusing on Mini LED will become increasingly fierce.

    According to the latest data released by research firm DSCC (Display Supply Chain Consultants), the shipment volume of mini LED TVs in the high-end market increased by 26% year-on-year in the third quarter of this year, reaching 905000 units, closely following OLED TVs (1.36 million units). According to DSCC analysis, "In the high-end TV market, the Mini LED product line has become a competitor to OLED TVs."

    In terms of market share among various manufacturers, as of the third quarter of this year, Samsung Electronics had a market share of 39% in the global Mini LED TV market, followed closely by China‘s Hisense and TCL with market shares of 27% and 26%, respectively. Sony (4%) and LG Electronics (1%) ranked fourth and fifth, respectively.

    In last year‘s Mini LED TV market, Samsung Electronics held a dominant position with over 70% of the market share, mainly thanks to the sales of Neo QLED products. However, this year, due to a 26% year-on-year decrease in shipments compared to the previous year, Samsung Electronics‘ market share has significantly declined. During this period, Hisense and TCL‘s Mini LED TV shipments increased 18 times in just one year, while TCL‘s shipments increased by 112% compared to the same period last year, resulting in a significant increase in their market share.

    Mini LED TV is a type of liquid crystal display (LCD) TV that contains dense LEDs of 100-200 micrometers in size around the backlight, used as a light source. Other traditional technologies of this technology have better display effects.

    In the past 3-4 years, with the booming development of the Mini LED market, the supply chain of Mini LED components has been established in China, consolidating the price advantage of Chinese TV manufacturers in the Mini LED TV market. TCL, through its display subsidiary Huaxing Optoelectronics, has successfully achieved vertical integration of products and displays, ensuring stable supply of LCD panels.

    DSCC believes that in the high-end TV market, the Mini LED product line has become a competitor to OLED TVs. It is expected that Chinese companies will leverage their advantages in the Mini LED TV market to challenge Samsung Electronics and LG Electronics‘ dominant position in the high-end TV market.

    Last year, TCL‘s shipment volume in the television market surpassed LG Electronics for the first time, ranking second globally. This year, Hisense has risen to third place. Korean TV manufacturers such as Samsung Electronics and LG Electronics plan to leverage their technological advantages to compete with Chinese companies that adopt a low-cost strategy.