TV Sales Might Drop Below 200m in 2020
In 2010, TV sales reached 200m for the first time and has remained over 200 thru 2019. There is a distinct possibility that this year’s global TV shipments will not reach 200m as COVID-19 continues to spread globally. This year’s global TV shipments will be the lowest since 2010. Omdia and TrendForce estimated this year’s global TV shipments to be 203.5 million and 205.21 million respectively. Both of them lowered their forecasts compared to their earlier projections this year. TV shipment growth from 2001 to 2020 has had a CAGR of 1.9%, a period that included the introduction of flat panels and growth rates that max’d out in 2020 at 20%.
As COVID-19 continues to linger longer and spread throughout Europe and South America, some predict that COVID-19 will have even greater negative effects on the market. As countries have measures that restrict economic activities, TV production and sales have been negatively impacted. In case of China, the world’s biggest TV market, quarterly sales in the first quarter fell short of 10 million for the first time in 9 years. The percentage of global TV shipments by Chinese TV manufacturers TCL, Hisense, and Xiaomi recorded only 32.5% due to aftereffects of COVID-19 and it fell short of that of South Korean companies (36.1%) such as Samsung Electronics and LG Electronics. The second quarter was only slightly better than the first quarter. Although the situation in China is improving as China manages COVID-19, the U.S., Europe, South America, and Africa are still in critical situations. Samsung Electronics and LG Electronics had lower sales in the second quarter than the first quarter. From: Etnews