Core Insights - The market share gap between TCL, Hisense, and Samsung in the global TV market has narrowed to 2.2 and 2.7 percentage points respectively [1] Group 1: Market Trends - Despite a slight decline in overall global TV sales, leading Chinese companies are gaining market share, with TCL and Hisense approaching Samsung's dominance [4] - Global TV shipment volume is projected to decrease by 0.7% to 221 million units in 2025, while TCL's shipments are expected to grow by 5.4% to 30.41 million units, increasing its market share to 13.8% [4] - Hisense is projected to ship 29.26 million units in 2025, a 1.4% increase, raising its market share to 13.3% [4] Group 2: Mini LED Opportunity - The global TV market is under pressure, but there is significant growth potential in Mini LED TVs, with shipments expected to rise by 57.8% to 12.39 million units globally in 2025 [5] - In China, Mini LED TV shipments are projected to surge by 92.7% to 8.02 million units, capturing a market share of 23.9% [5] - TCL and Hisense are capitalizing on this opportunity, with TCL's Mini LED TV shipments increasing by 153.3% to 2.24 million units in the first three quarters of the year [6] Group 3: Competitive Landscape - Samsung's global TV shipment volume is expected to remain stable at 35.27 million units in 2025, with a slight market share increase of 0.1% to 16% [6] - The competitive advantage of Samsung over Chinese brands is diminishing, as Hisense is set to launch RGB-Mini LED TVs, prompting responses from Samsung and Sony [6] - Chinese brands are increasingly challenging the dominance of Korean brands in the high-end TV market, particularly with the rise of Mini LED technology [6] Group 4: Supply Chain and Market Expansion - Changing tariff policies are impacting manufacturing bases in China and Southeast Asia, affecting retail prices and consumer demand [7] - TCL and Hisense are expanding their market presence in North America and Europe while leveraging production capabilities in Vietnam, Brazil, and Mexico to mitigate tariff impacts [7] - Hisense is enhancing its localized operations and expanding production capacity in Vietnam to target Southeast Asia and the EU markets [8] Group 5: Brand Performance - Chinese brands like TCL, Hisense, Xiaomi, and others are gaining market share, while Japanese brands like LG and Sony are experiencing declines [9] - TCL and Hisense are positioned to challenge for the top global TV sales spot within three years, driven by technological advancements and market strategies [11] - The upcoming 2026 sports events, including the World Cup and Winter Olympics, are expected to boost TV demand, with TCL and Hisense sponsoring these events [10]
年终盘点|2025年全球彩电市场微跌，中国双雄进一步逼近三星