China Surpasses South Korea in TV Market Share in Q4
Combined Share of TCL, Hisense, and Xiaomi Reaches 31%
Samsung and LG at Only 26%
“South Korea, once leading the global TV market, has finally lost its top spot to Chinese companies prioritizing ‘value for money’ (cost-performance ratio). While Samsung remains the top individual company, China’s TCL is closely catching up. Consequently, the combined market share of South Korean companies (Samsung and LG) has been surpassed by Chinese companies (TCL, Hisense, and Xiaomi).”
“Particularly, Samsung has seen a significant drop in its market share in the premium TV market, losing double digits within a year, indicating warning signs for maintaining its top position.”
According to market research firm Counterpoint Research on the 27th, global TV shipments in Q4 last year were 61 million units, a 2% increase from the same period the previous year. Annual shipments also increased by 2% to 230 million units. While shipments rose in most regions, they decreased by 15% in Japan and 4% in Asia.
In terms of Q4 shipment share, Samsung led with 16%, but TCL was close behind at 14%, followed by Hisense at 12%, LG at 10%, and Xiaomi at 5%. The combined Q4 TV shipment share of the three Chinese brands was 31%, surpassing Samsung and LG’s combined 26% by 5 percentage points.
Shipments of premium TV models such as OLED, Quantum Dot (QD) LCD, NanoCell, and Mini LED LCD rose by 51% in Q4 compared to the previous year, and by 38% annually. Mini LED LCD TV shipments specifically grew by 170%, surpassing OLED TV shipments since Q2 last year. QD LCD TV shipments also increased by more than 46%, surpassing 5 million units quarterly for the first time.
However, Samsung’s market share dropped by double digits due to aggressive competition from Chinese brands. Samsung’s Q4 premium TV shipment share fell to 29%, a 12% decrease from a year earlier. LG also saw a decrease from 26% to 19%, a 7 percentage point drop.
In contrast, TCL’s share increased by 8 percentage points and Hisense’s by 6, with shares reaching 20% and 16% respectively, ranking them 2nd and 4th.
Samsung and LG also lagged in annual shipments. According to another market research firm, Omdia, TCL, Hisense, and Xiaomi’s market share stood at 31.3%, surpassing the 28.4% share of Samsung and LG.
In terms of revenue, Samsung led the entire TV market and LG led the OLED TV market, but the gap with Chinese brands has narrowed. Samsung’s revenue market share was 28.3% last year, and LG’s was 16.1%, with both experiencing a decline in market share.
Meanwhile, during the same period, TCL recorded 12.4% and Hisense 10.5%, both entering the 10% range.
The situation surrounding the North American premium TV market is also considered a risk factor for domestic manufacturers.
Jae-hyuk Lee, a researcher at Counterpoint Research, stated, “If the ‘tariff bomb’ imposed by the Trump administration comes into effect, it could impact TVs produced in Mexico with a 25% tariff, and South Korean companies, which occupy a significant portion of the North American premium TV market, are expected to be more affected. Therefore, measures tailored to different scenarios are urgently needed.”