Omdia, a market research firm specializing in the technology industry, has published a new report ranking TV manufacturers based on the number of LCD panels they purchased from suppliers in Q1 2023, and the news isn’t all that great for Samsung.
According to the latest analysis, Samsung purchased the highest number of LCD panels among all the TV brands in the last quarter, with a market share of 14%. What screams trouble for the South Korean tech giant, however, is that TCL and Hisense are trailing close behind, with a combined market share of these two Chinese brands standing at 24%. LG comes in at fourth with a considerably less market share than Hisense.
Why is Samsung purchasing fewer LCD panels than before?
Lately, Samsung and LG have been focusing more on QLED and OLED TVs, and the panels for these models are mostly manufactured in-house. That means both South Korean brands are launching fewer TV models with basic LCD panels as each year passes by, the panels for which are supplied by other manufacturers. These are the two main reasons why Samsung and LG and purchasing fewer LCD panels from other suppliers.
Chinese TV brands are on the rise
TCL and Hisense, on the other hand, are mainly focused on QLED and non-QLED TVs, and they source the panels for these models from other suppliers. Plus, the two Chinese brands offer entry-level and mid-range TVs rather than high-end ones, which means they appeal more to the mass market, especially in emerging markets like India. That’s why these brands are purchasing more LCD panels than ever before.
Considering that Samsung purchased the highest number of display panels and the fact that the company also manufactures its own display panels, the tech giant has most probably sold the highest number of TVs in Q1 2023, and is most likely still the largest TV brand in the world, just like it was in 2022. However, if Samsung doesn’t work harder to improve its sales, it won’t take much time for Chinese brands to catch up.
