The launch of the new console generation is expected to lead to the increase in shipments of TVs next year. Sony’s Play Station 5 and Microsoft’s Xbox Series X were recently launched within a close time frame of each other and are now expected to bump TV sales globally.
According to TheElec report, market research from Omdia has projected that the TV industry will see a rise in shipments in 2021. Notably, the launch of the game consoles from Sony and Microsoft marks the second time both companies have launched a console within the same year. Back when the previous generation was released, the PlayStation 4 and Xbox One were both launched in November 2013. Their launch led to a 32 percent rise in console shipment in the following year and a 5 percent increase in TV shipments as well, as per Omdia.
Editor’s Pick: Honor V40 design leak reveals watch like rear camera housing, dual punch hole screen with curved edges
Hence, the market research assumes that a similar rise can be expected in 2021. Furthermore, TV manufacturers (eg: Samsung and LG) that take advantage of the newer console generation’s improved hardware like offering 8K resolution and 120Hz refresh rate would likely see increased sales as well. Before the 2013 launch of both consoles, TV shipments were falling. So, Omdia expects a positive outlook for 2021’s shipments. The market research report expects that both consoles will see a rise in shipments of more than 31 percent next year, in comparison to this year.
UP NEXT: Xiaomi MD gifts Mi 10T Pro to a man who refused to marry unless he has the smartphone
