Omdia expects a strong rebound on LCD TV panels purchases with annual growth by 8%
14 February 2023, 01:59:09
According to the latest Omdia report on TV displays, the demand recovery for LCD TV panel orders from the top global Korean and Chinese TV producers is around the corner. This market rebounds by 19% YoY in Q2 of 2023 and is expected to reach 161.4 million units. That will increase by 8% YoY, focusing on 50-inch and larger screens. If these expectations materialize, the market will return to its peak levels in 2020.
Samsung Electronics and LG Electronics have begun proactively planning purchasing volumes for 2023 where there will be a possible surge in panel demand by 22% YoY in 2023 from a 14-year low base as seen in 2022. Top-tier Chinese TV makers reached a new record high of panel purchases in 3Q22-4Q22 as they fulfilled the bigger TV production plans established thanks to the reopening of the Chinese market allowing the makers to capture and increase their global market share, especially in North America. The Top 5 Chinese TV makers include Hisense, TCL, Skyworth, Changhong, and Konka.
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