Mini LED market aggressively pursues Samsung
In the high-end TV lineup, Samsung Electronics has seen its market share in the mini light-emitting diode (LED) TV market plummet this year. While shipments from Samsung, which has an overwhelming market share, have declined, Chinese companies such as Hisense and TCL have increased sales and are actively catching up. Competition between Korean companies specializing in organic light-emitting diodes (OLEDs) and leading Mini LED Chinese companies is expected to intensify in the high-end TV market.
As of the third quarter of this year, Samsung Electronics held a 39 percent market share in the global Mini LED TV market, according to Dec. 21 data from Display Supply Chain Consultants (DSCC). Chinese companies Hisense (27%) and TCL (26%) followed. Sony (4%) and LG Electronics (1%) were fourth and fifth, respectively.
Until last year, Samsung Electronics dominated the market with more than 70 percent share, largely due to Neo QLED. this year, however, its market share has fallen sharply as shipments are 26 percent lower than last year. During this period, Hisense and TCL increased their market share by significantly increasing their shipments. Hisense's Mini LED TV shipments grew 18 times in just one year, while TCL's shipments grew 112 percent year-over-year.
Mini LED TVs are liquid crystal display (LCD) TVs that use a dense arrangement of 100-200 micron-sized LEDs as a light source around the backlight. They can be considered premium LCD TVs with improved contrast and other traditional drawbacks of the technology.
The rise of Chinese companies is a result of dominating the LCD panel market. Over the past 3-4 years, as the Mini LED market boomed, the supply chain for Mini LED components was established in the Chinese-speaking region, solidifying the price advantage of Chinese TVs. tCL, through its display subsidiary Huaxing Optoelectronics, has managed to vertically integrate a complete range of products and displays to ensure a stable supply of LCD panels.
Chinese companies are expected to capitalize on their strong position in the Mini LED TV market to challenge Samsung and LG Electronics' dominance of the high-end TV market. In the third quarter, shipments of Mini LED TVs in the high-end market grew 26% year-on-year to 905,000 units, following OLED TVs (1.36 million units.) According to DSCC's analysis, "The Mini LED product line has become a competitor to OLED TVs in the high-end TV market."
Mini LED's progress in the limited high-end market inevitably poses a threat to domestic companies. Last year, TCL overtook LG Electronics for the first time in terms of annual TV market shipments to secure second place. For this year, Hisense has risen to third place. Other domestic TV makers, such as Samsung Electronics and LG Electronics, plan to use their technological advantages to cope with competition with Chinese firms that have adopted a low-priced strategy.
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