LG, one of the most prominent names in the TV space, has been overtaken by TCL, a brand that used to be an underdog, as the second-biggest TV brand behind Samsung.
As per a report by Business Korea from data by Omdia, TCL is now in second place, a crown that use to be owned by LG, in terms of the total units sold. It’s said that TCL now owns 11.7% of the market, which is just slightly higher than LG’s 11.69%.
That 0.01% difference apparently means that TCL sold 30,000 more units than LG. Meanwhile, Samsung is still on top having a 19.6% market share, while following TCL and LG is HiSense at 10.5% and Xiaomi at 6.2%.
Top TV brands in 2022 (market share)
- Samsung: 19.6%
- TCL: 11.7%
- LG: 11.69%
- HiSense: 10.5%
- Xiaomi: 6.2%
In Q3 2022, LG fell to fourth place, with Samsung, TCL, and Hisense taking the first to third spots, respectively. During the said period, TCL owned 11.8% of the global market, Hisense at 11.6%, and LG was at 11%. TCL managed to take the spot at a time when there had been a year-over-year decline in TV shipments due to “shrinking demand.”
TCL’s emergence is possibly due to its strong partnership with Google as they are said to be the largest brand making Google TV products. HiSense is also expected to climb higher after it announced that it will also move to the Android TV platform last year.
It looks like Google TV is a force to be reckoned with as it continues to grow with over 150 million active devices logged in January, which is a 40 million year-over-year increase.
Via: Business Korea