TV, a tech marvel and pillar in the entertainment industry, may become obsolete in the coming years.
Before, you needed a TV, console, stereo, and music player to experience maximum entertainment. Now, you just need a smartphone to do all that!
Last year, the TV market shrunk and it’s the decade-low so far with a drop of 1.6% globally, compared to 2022. Here’s a quick rundown of the decline per region:
- 0.2% in Asia Pacific
- 8.4% in China
- 11.5% in Western Europe
- 3.0% in the Middle East and Africa
However, there were notable increases like the 7.5% in North America, 2.3% in Latin America, and 3.4% in Eastern Europe in the year-over-year comparison. Still, the growth was paled by the decline.
Research revealed that shipments fluctuated and favored low-cost TV units. This consumer shift allowed some brands to gain while others to lose market share.
| Brand | 2023 Shipment | Versus 2022 Growth | Market Share |
| Samsung | 36.3 million units | -9.8% | 18.5% |
| Hisense | 27 million units | +12.4% | 13.7% |
| TCL | 26.2 million units | +16.3% | 13.3% |
| LG Electronics | 22.91 million units | -7.4% | 11.6% |
The 2023 economic situation in Europe and North America limited the shipment of midrange and high-end TV units from Samsung. These units included mini LEDs, QLEDs, and 8Ks. LG Electronics also had lower OLED TV uptakes.
Hisense and TCL, on the other hand, gained more because of localized manufacturing and low-cost export strategies.
The TV era may or may not end soon, depending on what TVs are capable of. But it’s likely to shrink further as smart TVs remain expensive for the masses.
When was the last time you watched on a regular TV?
