TV market 2022, TCL number 2 worldwide, Hisense leader in China

A major player in the electronics and television market, for the first time in 2022 TCL rose to the Top 2 of global TV manufacturers. After overtaking LG, the Chinese manufacturer is now in pursuit of Samsung, a competitor however boxing in another category.

According to data from Omdia, in 2022 TCL became number 2 in the world by volume on the TV market. A great feat for, now, one of the major players in the global television industry and one of the leaders in consumer electronics.

TV market 2022, TCL N°2 at 30,000 units near…

The brand's large TVs in particular have enjoyed significant growth momentum over the past year. TCL can also boast of being the leader in terms of market share for 98'' televisions (see our TCL news, No. 1 in the 98'' TV segment for the first three quarters of 2022). In total, for 2022, Samsung occupied 19.6% market share, TCL 11.7% and LG 11.69%. The photo finish to decide between the second and third on the podium assesses, according to the analysis and market research firm Omdia, TCL's lead over LG at 30,000 units. Behind we find Hisense at 10.5% and Xiaomi at 6.2%, i.e. three Chinese brands in the Top 5. We also note that the addition of the market shares of the three Chinese brands reaches the figure of 28.4%, more than a quarter of the world market.

TV market 2022, TCL takes advantage of the global recession

In detail, TCL's dominance over LG began to take shape in the third quarter of 2022 with 11.8% market share, ahead of Hisense at 11.6% and LG at 11%, the Korean brand then occupying the fourth place (Samsung is the leader throughout 2022). Omdia specifies that the rapid growth of Chinese brands is largely explained by the slowdown in the global TV market, 203.26 million units in 2022 against 213.54 million in 2021, a decrease of 4.8%. Indeed, the recession is irremediably leading to an ever stronger deceleration in Western countries compared to emerging countries such as China, South America and Africa where there are low-cost television sets, a sector dominated by Chinese players. .

Chinese TV market, the Top 5

Omdia takes the opportunity to give the market shares of the various brands in the Middle Kingdom market, where Chinese domination is overwhelming with Hisense at 21% ahead of Xiaomi at 20.3%, TCL at 15.7%, Samsung at 1.1% and LG at 0.3%.

World TV market, the Top 3 in value

In value, the manufacturer LG maintains its second place with 16.7% behind Samsung at 29.7% and TCL at 9.4%.