Omdia: Market favors China panel makers as TCL and Hisense fortify LCD TV panel purchase power

LONDON – Competition from China's top tier TV makers is on the rise as TCL and Hisense rank as the second and third largest panel purchasers with a 24% market share in 1Q23, indicating the market is favoring Chinese panel makers, reveals Omdia's TV Display & OEM Intelligence Service. Previously at 22% in 2022, the latest combined market share for TCL and Hisense follows a historical four-year average with a total purchasing share of 19%.

Over the past decade, Samsung has held the strongest purchasing power with a market share of 13% in 2022 though this was a much weaker result compared to the 18% of global LCD TV panels shipments supplied to Samsung back in 2021.

In 1Q23 Chinese top tier TV makers grew TV shipments to strengthen their global TV market position in the branded and OEM business.

In 2022, 76% of the LCD TV panels that TCL and Hisense purchased came from Chinese panel makers that include BOE, ChinaStar, HKC Display, CHOT, and CEC-Panda, an increase from a 73% share a year ago or 58% share in 2019.

The retreat of Samsung Display and LG Display from the LCD TV panel business in 2023 is causing difficulties for South Korean TV makers, typically the most powerful panel purchasers in the market, when negotiating with external panel suppliers.

Read the full press release here.

Omdia