MUMBAI: This is one piece of research that deserves closer attention. Global market research firm Counterpoint Research data around a week ago showed that TV shipments have maintained their buoyancy in Q3 2024. The growth year on year for the period was at 11 per cent to  62 million units, which was the second quarter in succession that the TV market showed a rise. Research data also showed that growth was distributed even across all regions, except Japan. East Europe showed the maximum jump at 24 per cent. North America and western Europe also showed healthy growth. 

Model wise, premium TV sets consisting of OLED, QD LCD, and MiniLED LCD shipments rose 51 per cent year on year, which was an all-time high. A lot of that growth came courtesy the Chinese brands Hisense and TCL, which more than doubled their shipments year on year, climbing to second and third place. Samsung of  course led this segment at 30 per cent, but it lost 13 per centage points of market share to the Chinese brands. Because of the Chinese aggression, LG was pushed to the fourth spot. 

The premium TV segment saw shipments of MiniLED LCD TVs rising 102 per cent year on year, racing past OLEDs which accelerated by a mere 13 per cent year on year. QD LCD TVs also climbed past four million units -  50 per cent growth year on year.

Overall for TV shipments, Samsung Electronics retained its top slot with a 15 per cent market share, but that  had slipped marginally compared to the previous quarter.  HiSense sprinted ahead of TCL by increasing its shipments by 19 per cent. LG was at the fourth spot with a close to 10 per cent share, by shipping out mor  seven per cent more TV sets.

Counterpoint Research researcher Lim Soo-jung said, “In the TV market where replacement demand is the main issue, the fact that there has been year on year growth for two consecutive quarters can be interpreted as a shortened replacement cycle,” adding, “As TV companies continue to release new high-definition, large-screen models, it stimulates consumer purchases for users who want to enjoy videos on a larger screen at home.”