When it comes to the state of the current TV market, it’s clear that consumers are after larger screens, a trend driven by rising income levels and changing consumer expectations. Recent years have seen the standard for what constitutes a large screen TV change. Whereas previously, large screen TVs were classified as measuring 55-inch. Now, that classification has crept up to TVs over 65- or 75- inch in size, with the super large category also now a category in its own right.
While growth in the overall global TV market has plateaued, sales of larger screen TVs 65-inch and over has grown by more than 30 percent in recent years. According to research firm IHS Markit, the market volume of 65-inch and over TVs was 8 million in 2016 and increased to 11.4 million in 2017. This year, market volume is expected to reach 16 million units.
The market for extra-large, or above 75-inch, TVs is expected to experience even more pronounced growth of 47% this year, a key reason why Samsung has made this segment a core focus area. In the first quarter of this year, the company’s global sales of 65-inch and larger TVs increased over 35% year over year. In the same period, sales of Samsung TVs in the South American market spiked nearly four times, and the demand for large-sized Samsung TVs almost doubled in Korea.
In 2017, Samsung Electronics maintained its top ranking in the worldwide TV market for the 12th consecutive year, with more than 20% market share last year.
Samsung’s presence is even more noticeable in the fast-growing, large-sized TV market. The company is leading the worldwide market of 65-inch and over TVs, with 31.1% share of total number of units sold and 34.1% share for total sales last year, according to IHS Markit.
The share is even higher for 75-inch and larger TVs, reaching up to 47.4% share based on number of units sold. This means that one out of every two extra-large TVs sold worldwide is a Samsung TV. The popularity of Samsung TVs is particularly noteworthy in Europe and Latin America, where the company holds almost 60% of market share.
For the overall 75-inch and larger TV market, there was almost three times sales growth in the first half of this year, as compared to the same period last year. To meet and hone in on the growing customer demand in this segment, Samsung has strengthened its 75-inch and larger TV lineup in the four series lines (Q6F, Q7F, Q8C, Q9F) of the 2018 QLED TV portfolio.
Samsung’s 2018 QLED TV lineup has received strong reception since its global launch in March this year, for example experiencing a sevenfold increase in number of units sold in the first four weeks following launch in the United States compared to last year. In China and South Korea, sales volume doubled in the first quarter of 2018, compared to the fourth quarter of last year.
Samsung will continue its growth in both sales and innovation involving QLED TV. Samsung’s 2018 QLED TV lineup has incorporated various additional functions to optimize high-resolution content for a very large screen, delivering a mesmerizing, immersive experience. Among other standout features, Samsung’s QLED TV is the world’s only TV delivering 100% color volume, and has been upgraded with technologies such as ‘Anti-reflection’ so users can enjoy pure blacks without reflection. ‘HDR 2000’ enhances the level of brightness and expressed detail, and 4K Q Engine, automatically upscales content to 4K resolution, optimizing the content for the big screen.
Samsung QLED TV has also been designed with convenience in mind and reflecting consumer needs with features such as artificial intelligence based on Bixby and SmartThings App, the One Invisible Connection that combines complex connection lines into a single cable, and Ambient mode which enables the TV to depict images and information, even when the TV is off.
“With the very full major sporting events line up this year, including 2018 World Cup Russia and the Asian Games, we expect the demand for large-sized TVs to grow rapidly,” said Jongsuk Chu, Senior Vice President of Visual Display Business, Samsung Electronics. “This year, for QLED TVs, we aim to double growth, as well as continue our leadership in the global TV market by driving the ultra-large TV market.”