Chinese television manufacturers are making significant headway in the ultra-large TV market, with TCL Technology emerging as a leader over Samsung Electronics in the 80-inch and larger category. According to market research by Omdia, TCL secured a 23 percent market share in the third quarter of 2024, while Samsung’s share declined from 26 percent to 19 percent since last year.
Alongside TCL, Hisense, another Chinese brand, is closing in on Samsung with a mere 1.65 percent difference in market share, a significant improvement from the 11 percent gap observed a year earlier. Furthermore, Hisense has overtaken LG Electronics for the third-place position, highlighting the shifting market dynamics.
Chinese companies are thriving partially due to their control over the LCD panel supply chain, allowing them to offer competitive prices without sacrificing quality. This was evident during November’s Black Friday sales, as TCL’s 98-inch mini-LED TV was available for approximately $2,900, and Hisense’s 100-inch model for about $1,599, significantly less than Samsung’s similar 98-inch mini-LED TV priced around $8,997.
The gap in technology between Chinese and Korean LCD TVs has notably decreased, with Chinese brands advancing in ultra-large 100-inch TVs and incorporating high-end AI-powered processors in their premium models.
On the revenue front, Samsung’s share in the ultra-large TV market fell from 40 percent to 31 percent year-over-year in the third quarter, while TCL’s share nearly doubled from 9 percent to 18 percent. These changes are largely attributed to the state subsidies received by Chinese manufacturers and their lower production costs, making it challenging for Korean brands to compete on pricing.
In response to these shifts, Korean companies are exploring alternative revenue sources beyond hardware, such as software and operating systems, which are considered potential future growth areas. However, Chinese brands are also enhancing their software capabilities, presenting further challenges to the traditional market leaders.
