The TV market is booming in the work from home era and Samsung is reaping the benefits. According to market research firm TrendForce, quarterly TV shipments worldwide have reached a historic all-time high in Q3 2020 when all brands combined have shipped 62.05 million units, leading to an impressive 38.8% quarter-on-quarter increase and a 12.9% year-on-year bump. Samsung was able to improve its position and ship 67.1% more TVs in Q3 than it did the previous quarter, and 36.4% more compared to a year ago.
Samsung had shipped a total of 14.2 million TVs globally in Q3 2020, claims the research firm. The tech giant was followed by LG Electronics and TCL with 7.9 and 7.3 million shipments, respectively. LG saw the highest bump in its quarterly shipments as it recording an 81.7% QoQ increase.
The global market is led by North America
The increase in worldwide TV shipments in Q3 2020 is partly owed to the North American continent where demand for TVs has soared by 20%. The COVID-19 pandemic led to higher TV sales in North America in the first half of 2020 and demand was even higher in the third quarter of the year, revealed the market research firm.
Indeed, last week another market analysis revealed that Samsung was the largest TV OEM in the USA and has enjoyed incredible success over the past 12 months. Samsung remains the leading brand with a 32% share of the US market.
TrendForce now estimates that global TV shipment figures could get even higher in Q4 2020, potentially topping 64.53 million units.
