Global TV shipments dropped three per cent in 2023 to reach 223 million units, according to a new report by Counterpoint Research. The US market’s strength was not enough to offset the weakness in China and Europe. The report also highlighted the growth of the premium TV segment, which decreased 1 per cent annually but increased market share to 10 per cent.
“As the first joint product of Counterpoint and DSCC, the tracker also shows how we are bringing additional value to clients, with the net result much greater than the sum of its parts,” said Tom Kang, Director, Counterpoint Research. The analysts are expecting the premium TV segment to do better in 2024, with growth in mid-single digits, fueled by increasing screen sizes and ASPs.
Calvin Lee, DSCC Senior Director, South Korea, stated, “Recovery in the US and Europe will be a big factor but, as we are seeing in China, the right balance of features and pricing can be a big driver of replacement rates.” The global premium TV segment is expected to see growth in 2024 due to recovery in the US and Europe, according to analysts.
The report also noted a surge in China contributing to the increase in premium TV shipments. It emphasized the importance of finding the right balance of features and pricing to drive replacement rates. With the global premium TV segment expected to grow in the coming year, the industry is looking towards the recovery in key markets for expansion.
