Q4 television shipments were lowest in nearly a decade
Details
John Moulding
| 28 November 2023
4 Q4 television shipments were lowest in nearly a decade
Market intelligence firm TrendForce says the traditional peak period for television set shipments, Q4, has seen a year-on-year unit decline of 1.7%. Just 54.55 million units moved. Q4 shipment volumes are the lowest in nearly a decade.

Across the whole of 2023, TrendForce is reporting a decline in global TV shipments to 197 million units – a YoY decrease of 2.1%. “A significant increase in TV panel prices this year has led brands to scale down promotional events,” the company says of the whole-year figures.

Explaining the Q4 decline, the research firm points to constrained consumer budgets due to high interest rates and the real estate bubble in China. Both have suppressed TV demand. Q4 growth momentum (negative) is also the lowest in nearly a decade, TrendForce points out.

“Since the easing of the pandemic in Europe and the U.S. in 2H21, there has been a noticeable reduction in Q4 TV shipments in both 2022 and 2023,” TrendForce adds. “This suggests that demand for TVs has been prematurely depleted, with changes in consumer habits and economic uncertainty further hindering shipment growth.”

TV demand in 2024 is unclear, the company says. “In 2024, TV manufacturers aim to improve profitability by increasing the proportion of large-sized products and accelerating the phasing out of loss-making models. The Paris Olympics and UEFA Euro 2024 are expected to support a slight growth of 0.2% in global TV shipments next year,” it adds.

Samsung Electronics continues to lead in TV shipments this year, but with a slight market share reduction. LG has also lost market share, with Hisense and TCL the big gainers. These companies are now ranked second and third, with shipped units up 12.4% and 16.3% YoY, respectively. “Both Chinese brands have successfully raised their shipments volumes and market shares through low-cost export market strategies and localised production,” says TrendForce.