MiniLED-lit TVs Overtaking OLEDs In Premium Display Market: DSCC Research

Research and events company DSCC’s latest update of its Quarterly Advanced TV Shipment and Forecast Report (paywalled, you need a subscription) suggests MiniLED-lit LCD TVs have overtaken OLEDs, and that the Chinese brands Hisense and TCL are gaining market share and now up there with Samsung and LG in volume.

Advanced TV is defined by DSCC as any TV with an advanced display technology feature, including all OLED TVs, 8K LCD TVs and all LCD TVs with quantum dot technology. The big thing with miniLEDs for TVs, in particular, has been using many more and smaller LEDs for backlighting the LCDs, and then being able to zone and control them to switch on and off (so if a section of the visual is black, the LEDs in that part of the display switch off as needed).

From the report summary:

For the first time ever, shipments of MiniLED TVs surpassed shipments of OLED TVs, and MiniLED TVs captured more than 50% share of both units and revenues in the “super premium” category. Samsung fared poorly and lost share in Advanced TVs while TCL and Hisense gained share and Xiaomi emerged to break into the top five in the premium segment.

Advanced TV shipments grew 44% Y/Y in Q2’24. OLED TV shipments increased 21% Y/Y while Advanced LCD TV shipments increased 52% Y/Y. Advanced TV revenues increased by 28% Y/Y, the second consecutive quarter of increases after eight quarters of Y/Y declines in 2022 and 2023. OLED TV revenues increased by 5% Y/Y while Advanced LCD TV revenues increased by 41% Y/Y as the increase in units and a richer mix overcame price declines.

In the brand battle, while Samsung held on to the top spot in both units and revenue, it lost ground while its rivals in China gained. In Q2’24, among all Advanced TV products:

• Samsung’s unit and revenue share declined as units increased only 3% Y/Y and revenues declined 13% Y/Y. Samsung MiniLED shipments decreased 19% Y/Y and Samsung unit share in MiniLED declined to 23%.
• Hisense took the #2 position in units as shipments increased 157% Y/Y, its fifth consecutive quarter of triple digit percent gains, and revenues increased 128% Y/Y.
• LG shipments increased 53% Y/Y, and its unit share increased, but revenue share decreased as LG revenues increased 27% Y/Y.
• TCL remained in the #4 position but gained unit and revenue share as shipments increased 78% Y/Y revenues increased 81% Y/Y. TCL passed Samsung to take the lead in MiniLED TV units and came within 1% of Samsung’s revenue share.
• Xiaomi jumped into the #5 spot as shipments increased 433% Y/Y and revenues increased 713% Y/Y. Xiaomi took the #3 spot in MiniLED units and revenue.
• Sony’s shipments declined 16% Y/Y and revenues fell 29% Y/Y and Sony fell out of the top five in Q2’24.

Total MiniLED TV shipments in Q2’24 increased by 68% Y/Y and revenues increased by 60% Y/Y. OLED TV shipments increased by 21% Y/Y and revenues increased by 5% Y/Y. For the first time ever MiniLED surpassed OLED in both shipments and revenue, as MiniLED captured 54% share in both categories with OLED getting 46%, a flip from a year ago when the numbers were reversed.

TCL pioneered the MiniLED TV category with its first products in 2019, but volumes were initially low. Samsung came in in 2021 and quickly dominated the category, and Samsung held the highest share of MiniLED in every quarter from Q2’21 through Q1’24, but TCL regained the lead in the second quarter with more than 50% Y/Y growth while Samsung MiniLED TV shipments declined.

While the share gains by Chinese brands were partly a result of the surging demand in their home market, TCL and Hisense also gained share in both Western Europe and North America. Hisense’s unit/revenue share in North America increased from 8%/6% in Q2’23 to 26%/19% in Q2’24.