On April 9th, Lutu Technology released a report titled "Competition between OLED and MiniLED in the high-end TV market". The data reveals that in 2023, global economic pressures continued to mount, resulting in sluggish market demand. Global TV shipments totaled 201 million units, down 1.6% compared to 2022, reaching a new low in nearly a decade. Among them, global OLED TV shipments were 5.48 million units, down 20.6% year-on-year, while shipments of Mini LED TVs, one of the most widely accepted high-end TV technologies on the market, continued to grow steadily, reaching 4.25 million units, up 24.7% year-on-year.
In 2023, the Chinese market sold a total of 36.56 million television units, marking an 8.4% decline compared to 2022, surpassing the global market downturn. Particularly noteworthy was the slump in the Chinese TV market during the latter half of 2023, with monthly shipments dropping by over 10% year-on-year. Lutu Technology anticipates a rebound in the Chinese TV market in 2024, with an estimated 5.0% increase in overall brand shipments, reaching a scale of over 38 million units.
As for the current leading OLED and MiniLED technologies, they are showing distinctly different development trends. In 2023, MiniLED TV shipments reached 4.25 million units, up by 24.7% year-on-year, achieving steady growth. The growth is expected to expand in 2024, reaching 6.59 million units, and the scale is projected to surpass 10 million units by 2025. The Chinese market showed a significant increase, with full-year sales of 920,000 units in 2023, representing a growth of over 140% compared to 2022. It is expected to reach 1.85 million units in 2024, a year-on-year increase of 101.1%.
Meanwhile, in 2023, global OLED TV shipments totaled 5.48 million units, a significant decrease of 20.6% compared to 2022. The core reason lies in the fact that OLED TVs are approximately 1400 CNY more expensive than MiniLED TVs of the same size. Consumers tend to favor MiniLED technology, which offers comparable performance at a more affordable price point.
In 2023, the Chinese OLED TV shipments accounted for 1.9% of the global OLED TV market, a decrease of 3.1 percentage points from the previous year, totaling 106,000 units. Sony and Skyworth dominate the Chinese OLED market, each holding about 30% market share.
