The gap in TV shipments between LG Electronics and TCL has been shrinking for years, according to analyst firm Omdia and Korean newspaper The Elec.
Samsung. TCL. LG.
TCL is planning to procure more TV panels this year than LG Electronics and while not all of them will end up in TV products it could suggest that 2022 will be the year when TCL captures second place in the global TV market.
- "According to market research firm Omdia and the industry on the 4th, this year's plan to secure panels by major TV makers was Samsung Electronics' 55.6 million units, TCL's 36.5 million units, and LG Electronics' 34.3 million units," Korean newspaper The Elec reported (translated).
The gap between LG and TCL in actual TV shipments has narrowed from 6.84 million in 2019 to 2.76 million in 2021, according to the report. Last year, Samsung shipped 42.23 million TVs, LG shipped 27.33 million TVs, and TCL shipped 24.57 million TVs.
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TCL sources most of its LCD TV panels from its own subsidiary company, an LCD panel manufacturer called CSoT.
TCL continues to focus primarily on volume but has in recent years also added high-end miniLED LCD TVs and ultra large-sized models to the line-up. LG meanwhile has made significant efforts to increase sales of high-end TVs such as OLED. Samsung, the number one TV maker, will launch OLED TVs this year, leaving TCL as the only major TV maker to only sell LCD TVs.
LG and Samsung still have a significant lead over TCL in terms of revenue due to their high market shares in the premium TV market.
- Source: The Elec
