Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 19, according to TrendForce consulting survey, global TV shipments reached 51.39 million units in the third quarter of 2022, a quarterly increase of 12.4% and an annual decrease of 2.1%, the lowest in the same quarter since 2014. As the world continues to be covered by high inflation, in the case of all things rising, the budget of consumer products has been seriously squeezed, indirectly curbing the willingness to purchase TV products. Entering the fourth quarter, the brand has made a big promotion in order to sprint this year's shipments, which is expected to increase TV shipments in the fourth quarter by 10.8% to 56.96 million units, but it is still down 3.5% from the same period last year, a new low for the same period in previous years. Under the influence of the conflict between Russia and Ukraine, high inflation and rising interest rates, it is estimated that global TV shipments in 2022 are only 202 million sets, an annual decrease of 3.8%, the lowest in nearly a decade.

TrendForce Jibang Consulting further pointed out that due to loose supply and demand, TV panel prices are unlikely to rise in 2023, but it will help brands reduce cost pressure and be more flexible in the operation of large-scale promotions. However, according to the latest forecast of global economic growth by the International Monetary Fund (IMF) in October, the global economic growth rate will slow to 2.7% next year, and it does not rule out the possibility of downward revision, so it is estimated that global TV shipments will decline by 0.7% a year to 201 million units in 2023.

European natural gas prices soar, consumer budgets crowd out OLED TV to buy gas is not good

This year, TV sales in Europe were the worst, mainly due to the conflict between Russia and Ukraine, the shutdown of nuclear power plants in France and the lack of hydroelectric power due to drought, resulting in a nearly four-fold increase in European natural gas prices compared with the same period last year. CTOnews.com learned that the report pointed out that European TV shipments are likely to decline by 12.5% this year due to the severe crowding out of household consumer budgets. As Europe is one of the main sales regions of OLED TVs, even though sales promotion in North America has led to an increase of more than 20% in OLED TV shipments this year, it has been weakened by TV demand in Europe, drawing the rest of the growth of OLED TV shipments since TrendForce consulting statistics in 2016. It is estimated that OLED TV shipments this year will only reach 6.67 million units, an annual decrease of 0.6 per cent.

OLED TV demand is against the wind, leading LG Electronics OLED TV shipments this year may decline 2.7%

This year, LG Electronics and SONY own more than 80% of the OLED TV market, winning 61% and 21% respectively. However, LG Electronics failed to sell in Europe and shipments in North America were not as expected. This year, shipments of LG Electronics OLED TVs fell 2.7% year-on-year for the first time to 4.04 million units. In the past, the annual shipments of Philips and Panasonic OLED TVs in Europe exceeded 60%, but this year, due to the severe inflationary blow in the European market, consumer budgets have tightened, and LG Electronics has continued to cut prices and promote the survival of other OLED brands since the second quarter, resulting in delays in shipments of OLED TVs by Philips and Panasonic in the second half of the year. OLED TV shipments are expected to decline by 9.1% and 23.3% respectively this year.

The brightness of OLED TV will increase again in 2023, which is expected to push up shipments.

Apart from the fact that OLED TVs were sold less than expected in Europe this year, with the sharp decline in the price of LCD TV panels, the price difference between 55-inch UHD OLED and LCD TV panels widened from 1.8x to 5x in one year, which helped the promotional price of LCD TVs to fall by 2025%, but also led to a steady decline in OLED TV sales. In addition, the brightness performance of OLED TVs is slightly lower than that of LCD TVs with mini LED as backlight, which is also a high-end product, so LG Display will further increase the brightness of OLED TVs by changing materials and algorithms next year, and shipments are expected to increase by 7.3% to 7.16 million units per year.

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