What They Say
DSCC published its latest Advanced TV report that, unsurprisingly, found that the combination of macroeconomic and geopolitical events and higher prices for OLED TVs led to a dramatic slowdown in growth for the Advanced TV market. Advanced TV shipments and revenues declined on a Y/Y basis in Europe, and partly as a result of that regional downturn shipments and revenues declined for OLED TVs.
For the first time ever, the Y/Y growth in Advanced TV shipments in Q2’22 was less than a double-digit %. Advanced TV shipments increased by 7% Y/Y to 4.7M units, as shown in the first chart here of shipments by region. It appears clear that the Russian war in Ukraine affected shipments in Europe. Shipments to Western Europe decreased 12% Y/Y and revenues decreased 14% Y/Y. Shipments to Eastern Europe declined by 33% and revenues declined by 27% Y/Y. Outside of Europe, Advanced TV shipments remained in growth mode, with worldwide ex-Europe shipments increasing 21% Y/Y and revenues increasing 14% Y/Y. In contrast to Europe, shipments to China increased by 39% Y/Y and revenues increased 41%. Shipments to Asia Pacific increased 36% Y/Y and revenues increased 24%.
Europe has been a prime market for OLED TVs, so the downturn in that region affected OLED TV more than it did Advanced LCD. OLED TV shipments decreased Y/Y for the first time ever, with a 7% decline Y/Y. Advanced LCD TV shipments increased 17% Y/Y. OLED unit share decreased from 38% in Q2’21 to 31% in Q2’22. Advanced TV revenues increased by only 3% Y/Y. OLED TV revenues decreased 5% Y/Y while Advanced LCD TV revenues increased by 7% Y/Y as growth in units and a richer mix offset price declines.
The blog includes a chart of advanced TV Shipments by Size and Display Technology, 2019 to 2022.
The brand result showed Samsung up in units but down in revenues. LG on the other hand, lost units and unit share but gained in revenue. TCL got to #3 for revenue, above Sony for the first time. Sony lost both unit and revenues and share of both.
MiniLED has done well (see chart below) with year on year growth of 74% since last year. Nevertheless, MiniLED shipments remained far lower than OLED TV shipments, with 693K units compared to 1.47M units for OLED. As shown on the chart, LG has established a solid #3 position in the MiniLED category with a 10% share in Q2’22.
The blog looks at Samsung, LG and Sony pricing strategies in the US market and developments by brand in China. The final chart is a look at sales by brand in different price bands for Advanced TV.
What We Think
As usual, there is a lot in this article and if you are in the market, it’s worth a read. (BR)
Advanced TV Shipments by Region, 2019 to 2022
MiniLED TV Shipments by Brand, 2020-2022
