By: Dipin Sehdev

The TV market is experiencing a shift, with new competitors challenging traditional leaders. Sony, Samsung and LG, once dominant in the premium TV segment, are now facing increased pressure from Chinese brands like Hisense and TCL. This growing competition is leading to innovation, better features, and potentially lower prices for consumers.

Chinese Brands on the Rise

Samsung's dominance, holding the top spot for 18 consecutive years, is facing a serious challenge. Their global market share, currently at 15%, is just a hair's breadth above Hisense and TCL, both sitting comfortably at 12%. This rise is even more pronounced in the lucrative premium TV segment. Here, Samsung's share has plummeted from 43% in Q3 2023 to 30% in Q3 2024. Conversely, Hisense and TCL have doubled their premium TV sales, pushing LG down to fourth place.

Driving Forces of Change

Several factors are fueling this shift. One key driver is the booming demand for colossal screens – 85 inches and beyond. Hisense and TCL have been more aggressive in capturing this growing market segment compared to Samsung. Additionally, Chinese brands are known for their competitive pricing strategies, potentially making premium TVs more accessible to a wider audience.

Innovation and MiniLED Surge

Despite the rise of Chinese brands, the picture isn't entirely bleak for Samsung. The overall TV market, including both standard and premium segments, is experiencing growth. Premium TV shipments, in particular, have surged by an impressive 51% year-over-year. This growth is fueled by exciting technologies like MiniLED, which boasts excellent picture quality and is an area where Samsung still holds considerable expertise. Additionally, Samsung plans to ramp up their offerings in the massive (100-inch+) TV category in 2025, aiming to reclaim lost ground.

The Consumer Wins

Ultimately, the biggest beneficiaries of this fierce competition are likely to be consumers. With more players in the game, we can expect a wider selection of TVs pushing the boundaries of innovation and, perhaps most importantly, increasingly competitive pricing structures. This means you might just find yourself with the perfect TV at a price point that fits your budget, whether it's a cutting-edge MiniLED behemoth or a feature-packed 75-inch model.

Who Still Makes the Best TVs?

While competition is intensifying, it's worth mentioning that some brands continue to be recognized for their top-notch picture quality and cutting-edge features. Here's a look at the best-reviewed TVs of 2024, based on Critic Scores (CE):

• Sony A95L (OLED): 97% CE Critic Score
• LG G4 (OLED): 96% CE Critic Score
• Samsung S95D (OLED): 94% CE Critic Score

It's important to consider your needs and budget when choosing a TV. While these top performers boast exceptional picture quality, other models from various brands might offer better value or specific features you desire.

This shakeup in the TV market is exciting news for consumers. With more choices at potentially lower prices, finding the perfect home theater centerpiece has never been more accessible. Keep an eye on this evolving landscape as brands like Samsung, LG, Hisense, and TCL continue to innovate and push the boundaries of what's possible in the world of TVs.

Source: CounterPoint