A recent analysis from Display Supply Chain Consultants (DSCC) indicates that in the second quarter of 2024, the Mini LED TV market experienced remarkable growth, surpassing OLED TVs in both shipments and revenue for the first time.
The findings highlight a boom in the global television market, primarily propelled by Chinese brands, with TCL reclaiming its status as the leading Mini LED supplier.
TCL Takes the Lead in Mini LED TV Shipments in Q2 2024
During Q2 2024, the high-end TV segment saw a 44% year-on-year increase in shipments, paired with a 28% rise in revenue. OLED TV shipments experienced a moderate 21% increase, with revenue growing by 5%. In contrast, Mini LED TVs excelled with a remarkable 68% rise in shipments and a 60% increase in revenue, making up 54% of the total shipments for the quarter. This marks a pivotal change in the global high-end TV sector.
TCL and Hisense were at the forefront of this trend, with TCL's high-end TV shipments increasing by 78% year-on-year and revenue by 81%. Xiaomi also advanced past Sony, securing the fifth position. TCL overtook Samsung, which had been the leader in Mini LED shipments for three years. Samsung's share of Mini LED units fell to 23%, with a 19% decrease in shipments year-on-year, illustrating the mounting competition from Chinese brands.
The Mini LED technology's success is largely due to its enhanced brightness, contrast, and picture quality compared to traditional LCDs, along with its benefits in longevity and cost over OLED.
TCL's Strategic Investment in Mini LED Technology
TCL's impressive performance is linked to its significant investment in Mini LED technology. Since 2017, the company has established a comprehensive Mini LED supply chain and controls 48 key technology points with 470 patents. By 2024, TCL's production capability reached 10 million units annually, reinforcing its dominance.
As Mini LED technology continues to evolve, it's clear that Chinese companies like TCL are transforming the global high-end TV landscape, driving technological advancement, and challenging established industry giants like Samsung.
