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TCL & Hisense rise, LG & Samsung fall in 2023 TV market

11 Dec 2023 | Rasmus Larsen |

The global TV market is estimated to fall below 197 million shipments this year, according to TrendForce, with Samsung, Hisense, TCL, and LG securing the top four positions.

Following the covid-19 induced boom, the TV market is experiencing a downturn due to economic uncertainty in Europe and North America. TrendForce projects a 2.1% decline in 2023 compared to 2022, dropping to less than 197 million units, according to a report by Display Daily.

The outlook for 2024 remains uncertain, but TrendForce cautiously anticipates 0.2% growth, mainly attributed to major sports events.

South Korea vs. China

The top-4 now comprises two South Korean (LG, Samsung) and two Chinese (TCL, Hisense) TV makers. Industry leader Samsung is projected to see almost a 10% decline in TV shipments in 2023, with 8K, miniLED LCD, and "QLED" LCD down. However, sales of QD-OLED TVs are experiencing rapid growth reaching 890,000 units, a 153% year-over-year increase. LG Electronics is expected to see declining shipments in its more established WOLED category. Also read: First look: TCL's flagship 5184-zone X955 advances miniLED LCD Chinese manufacturers Hisense and TCL continue to gain market share by offering competitive or more advanced LCD TV models across most segments at lower prices.

2023 global TV market (estimate)

2023 shipments (million units)Growth vs. 2022Market share
LG Electronics22.91-7.4%11.6%
Total Market197-2.1%100%
- Source: TrendForce via Display Daily

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