TrendForce: Global OLED TV shipments will decline to 6.67 million units

According to a TrendForce survey, global TV shipments in the third quarter of 2022 reached 51.39 million units, a quarterly increase of 12.4% and a year-on-year decrease of 2.1%. The lowest record. As the world continues to suffer from a high inflation environment, the budget for consumer products is seriously crowded out, which indirectly inhibits the willingness to purchase TV products. Entering the fourth quarter, the brand launched a large-scale promotion in order to sprint this year's shipments. It is expected that the TV shipments in the fourth quarter will increase by 10.8% quarter-on-quarter to 56.96 million units, but it is still down 3.5% compared with the same period last year, which is the same period of the previous year. Shipments hit a new low. Under the influence of factors such as the Russian-Ukrainian conflict, high inflation, and interest rate hikes, it is estimated that global TV shipments in 2022 will only be 202 million units, a year-on-year decrease of 3.8%, the lowest year of shipments in the past decade.

TrendForce further pointed out that in 2023, due to loose supply and demand, the price of TV panels is unlikely to rise sharply, but it will help brands reduce cost pressure and be more flexible in the operation of large-scale promotional activities. However, the latest forecast of the International Monetary Fund (IMF) on global economic growth in October pointed out that the global economic growth rate will slow down to 2.7% next year, and it does not rule out the possibility of a downward revision. Therefore, it is estimated that global TV shipments in 2023 will be The volume will decrease by 0.7% year-on-year to 201 million units.

European gas prices skyrocket, consumer budgets crowd out OLED TVs

This year, TV sales in Europe had the worst performance, mainly due to the three-layered factors such as the conflict in Russia and Ukraine, the shutdown of nuclear power plants in France and the inability to generate hydropower due to drought, which caused the price of natural gas in Europe to soar nearly four times compared with the same period last year. IT House was informed that the report pointed out that the annual decline in European TV shipments this year may reach 12.5% ​​due to the serious crowding out of household consumption budgets. Since Europe is one of the main sales regions for OLED TVs, even though sales of OLED TVs in North America have grown by more than 20% through promotions this year, the demand for TVs in Europe has been sluggish. A stop for the growth of goods. It is estimated that this year's OLED TV shipments will only reach 6.67 million units, down 0.6% year-on-year.

OLED TV demand is a headwind, leading LG Electronics' OLED TV shipments may decline by 2.7% this year

This year, LG Electronics and SONY own more than 80% of the OLED TV market, with 61% and 21% respectively. However, LG Electronics lost sales in Europe, and shipments in North America were not as good as expected. For the first time this year, LG Electronics OLED TV shipments decreased by 2.7% year-on-year to only 4.04 million units. In the past, OLED TVs from Philips and Panasonic accounted for more than 60% of the annual shipments in Europe, but this year, the European market has been hit by severe inflation, consumer budgets have tightened, and LG Electronics has continued to cut prices since the second quarter to squeeze other OLEDs. The survival of the brand has hindered OLED TV shipments of Philips and Panasonic in the second half of the year. It is estimated that OLED TV shipments this year will decline by 9.1% and 23.3% respectively.

In 2023, the brightness of OLED TVs will increase again, which is expected to push up shipments

This year's OLED TVs are not as good as expected in Europe. With the sharp drop in LCD TV panel quotations, the price difference between 55-inch UHD OLED and LCD TV panels has widened from 1.8 times to 5 times within a year, which will help the promotion price of LCD TVs to decrease. Reached 20~25%, but it also caused OLED TV sales to decline. In addition, the brightness performance of OLED TVs is slightly lower than that of LCD TVs that use mini LEDs as backlights, which are also high-end products. Therefore, LG Display will further improve the brightness of OLED TVs by replacing materials and algorithms next year. Lifting shipments increased by 7.3% year-on-year to 7.16 million units.

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