According to a recent report by Display Supply Chain Consultants (DSCC), the Mini LED TV market witnessed significant growth in the second quarter of 2024, overtaking OLED TVs for the first time in both shipments and revenue.
The report reveals a surge in the global television industry, driven largely by the performance of Chinese brands, particularly TCL, which reclaimed its position as the top Mini LED shipper.
TCL Claims the Top Spot in Mini LED TV Shipments in Q2 2024
In Q2 2024, high-end TV shipments grew by 44% year-on-year, while revenue increased by 28%. OLED TV shipments saw a modest 21% increase in volume, with revenue rising by 5%. However, Mini LED TVs outperformed OLED with a staggering 68% growth in shipments and a 60% rise in revenue. Mini LED TVs accounted for 54% of total shipments in the quarter, marking a significant shift in the global high-end TV market.
TCL and Hisense led the charge in this category, with TCL’s high-end TV shipments growing by 78% year-on-year and revenue rising by 81%. Xiaomi also moved ahead of Sony, taking fifth place. TCL surpassed Samsung, which had held the top spot for three years, in Mini LED shipments. Samsung’s Mini LED unit share dropped to 23%, with shipments declining by 19% year-on-year, highlighting the increasing pressure from Chinese competitors.
The success of Mini LED technology is attributed to its superior brightness, contrast, and picture quality compared to traditional LCDs, as well as its advantages in lifespan and cost over OLED.
TCL’s strong performance can be traced back to its deep investment in Mini LED technology. Since 2017, the company has developed a full Mini LED supply chain and holds 48 key technology control points and 470 patents. By 2024, TCL’s production capacity reached 10 million units annually, solidifying its leadership.
As Mini LED technology continues to mature, it is evident that Chinese brands like TCL are reshaping the global high-end TV market, driving innovation, and challenging traditional industry leaders like Samsung.
(Via)
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