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February 14, 2023
LONDON – The long-awaited demand recovery for LCD TV panel orders from the global top Korean and Chinese TV makers is around the corner according to Omdia's TV Display & OEM Intelligence Service. Omdia estimates a strong rebound of 19% year on year (YoY) is expected in 2Q23 along with the anticipation of reaching 161.4 million units or an increase of 8% YoY focused in 50-inch and larger screen sizes. If this 2023 buy-plan materializes, the market is about to return to the peak level of 2020 purchase volumes or 3% higher than the historical four-year average.
With a strong market on the horizon, Samsung Electronics and LG Electronics have begun proactively planning purchasing volumes for 2023 where there will be a possible surge in panel demand by 22% YoY in 2023 from a 14-year low base as seen in 2022.
Top-tier Chinese TV makers reached a new record high of panel purchases in 3Q22-4Q22 as they fulfill the bigger TV production plans established thanks to the reopening of the Chinese market allowing the makers to capture and increase their global market share especially in North America.
Read the full press release here.
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