TCL is entering the 2024 IFA technology trade show with a strong sense of confidence, bolstered by data from Omdia indicating the company’s leadership in the global Mini LED TV market. According to the report, TCL was the top manufacturer for Mini LED TV shipments and ultra-large televisions measuring 85 inches and above last year. This trend aligns with the growing consumer preference for larger screens, particularly as more individuals spend time at home.
As consumers increasingly invest in big-screen TVs, the market for displays measuring 80 inches and larger is projected to experience substantial growth. Omdia forecasts a remarkable 35% year-over-year increase in global shipments for these larger televisions. Currently, they represent 7% of the overall display market, with expectations to rise to 11% by 2030. This shift suggests a long-term structural change in consumer behavior, particularly favoring Chinese manufacturers.
Chinese Manufacturers on the Rise
TCL’s sister company, CSOT, alongside competitors like BOE, now dominates the supply of ultra-large LCD panels, particularly in the 98 to 100-inch range. This evolution reflects a broader trend, as Western consumers have increasingly gravitated towards the vibrant and relatively affordable Mini LED LCDs produced by Chinese companies. As a result, TCL and Hisense have made significant gains in shipment rankings, often challenging LG for the number two position in several recent quarters, while Samsung continues to hold the top spot in the industry.
The 2024 sales data primarily reflects TCL’s growing market share, rather than serving as a definitive measure of product quality. Nevertheless, TCL, like many of its Chinese counterparts, is now emphasizing quality in addition to competitive pricing. The company is widely recognized for introducing the world’s first Mini LED TV in 2019, becoming the first manufacturer to achieve mass production in this innovative segment. Since then, TCL has continuously improved its proprietary technologies and algorithms, leading to notable advancements in Mini LED technology.
The Challenge Ahead at IFA
As TCL showcases its supersized TVs at IFA, the central question will be whether these products can sustain high dynamic range (HDR), deliver tighter halo control, and provide superior motion handling, all while maintaining comparable sizes and pricing. If TCL succeeds in these areas, it could pose a significant challenge to Samsung’s market dominance.
With the evolution of consumer preferences and advancements in technology, TCL is poised for a pivotal year ahead. The outcomes at IFA may not only define TCL’s trajectory but also reshape the competitive landscape of the television industry.
