According to Pulsestacks on April 30th, based on the "Monthly Tracking of Global LCD TV Panel Market" report by RUNTO, in the first quarter of 2024, global shipments of large-sized LCD TV panels reached 56.5 million units, showing a 1.3% and 11.3% increase on a year-on-year and quarter-on-quarter basis, respectively. The shipment area reached 41.0 million square meters, up by 9.6% year-on-year and 5.6% quarter-on-quarter.
Large-sized panels demonstrated significant advantages in capacity consumption, revenue, and profit. In Q1 this year, shipments of LCD TV panels sized 75 inches and above grew by 32.6% year-on-year. Notably, the combined shipments of 98-inch and 100-inch panels surged by 350.0% compared to the same period last year.
The report indicates that the top three TV panel manufacturers in mainland China reduced production to stabilize the market, resulting in a decline in their global market share. With significant capacity adjustments by mainland panel factories, in Q1, the market share of Japanese and Korean panel factories increased by 13.4%, rising by 4.2 and 1.4 percentage points year-on-year, respectively. Taiwanese panel factories Innolux (Chimei) and AUO (AU Optronics) held a combined market share of 20.4% in Q1 2024, showing a slight increase. Their combined shipments increased by 3.3% and 10.2% year-on-year, respectively.
Within the scope of the statistics, among the world's top eight panel manufacturers, half saw increases and half saw decreases in shipments. Those with year-on-year growth include: Sharp and LGD from Japan and South Korea, AUO and CSOT from Taiwan and mainland China, respectively.
In the first quarter of this year, the top-selling size was the 32-inch product, with approximately 12.9 million units shipped, marking an 11.2% year-on-year decrease. It held a market share of 22.8%, down by 3.2 percentage points compared to the same period last year.The 42/43-inch category ranked second in shipments for the first quarter, with around 11.5 million units shipped, a 1.9% decrease year-on-year. It captured a market share of 20.4%, slightly down by 0.7 percentage points. This size category is relatively dominated by production from the three major panel manufacturers in mainland China, with BOE holding a relatively strong position.
The 55-inch segment saw a significant year-on-year growth in shipments by 27.2%, totaling around 9.4 million units, ranking third in shipments and second in growth rate. Its market share increased by 3.4 percentage points to reach 16.6%, showing the highest increase in market share among all sizes.
Shipments of 65-inch TVs grew by 16.1% year-on-year, reaching approximately 6.7 million units, with a market share of 11.9%, ranking fourth and increasing by 1.5 percentage points compared to the same period last year.
Around 3.3 million units of 75-inch TVs were shipped, marking a significant 26.5% year-on-year growth. Shipments of TVs 75 inches and above reached about 1.6 million units, showing a 47.3% year-on-year increase, the highest growth rate among all sizes.
According to pulsestacks, in the Chinese TV market, the total shipment of branded complete machines in the first quarter of 2024 reached 8.44 million units, a decrease of 0.9% compared to the same period in 2023. Earlier, there were reports of a trade-in program, but in April, the central government decided not to subsidize household appliances, encouraging eligible local governments to implement actions. It is expected that this initiative will have limited stimulation on color TV sets. RUNTO Technology predicts that during the mid-year 618 promotion, the retail volume of the Chinese TV market is expected to decrease by 4% to 6%.
