The competition in the consumer electronics industry is fierce. Tech giants like Samsung, Oppo, Apple, Huawei, Lenovo, and LG are all vying for market share with a wide range of products. Research firms like Omdia help us to understand the latest trends in the industry. Their most recent study of the LCD TV panel market found that Samsung is the largest buyer, but Chinese firms are not far behind. Here are the details…

Samsung is biggest LCD TV panel buyer, but Chinese firms are not far behind

New evidence suggests a noteworthy trend in the TV panel market: Chinese brands are making substantial gains in the LCD TV panel market. According to a recent report released by prominent market research firm Omdia, Chinese electronics companies have achieved significant growth in Q1 2023.

TCL and Hisense, two Chinese brands, have taken the lead in LCD TV panel purchases, with TCL buying 12.4 million panels and Hisense closely following with 11.2 million. This change in the market landscape has unsettled the long-standing champion of this sector, Samsung, which came third, purchasing 15.6 million panels.

Several factors have contributed to the increased demand for LCD TV panels in Q1 2023. The ongoing COVID-19 pandemic, for one, has heightened the need for home entertainment solutions. Additionally, the persistent chip shortage is forcing TV manufacturers to pivot towards LCD panels as OLED production faces significant challenges.

The rising prominence of Chinese brands in the LCD TV panel market poses a challenge for Samsung, a brand renowned globally for its quality electronics, especially TVs. However, this change also presents a golden opportunity. As long as Samsung continues to innovate, maintaining the superior quality of their products and offering them at competitive prices, they can retain their dominant position in the global TV market.

RELATED:

(via)

RELATED ARTICLESMORE FROM AUTHOR