The Zhitong Finance App learned that Omdia's latest analysis shows that LCD TV displays have now become a minority oligopoly industry controlled by a few powerful Chinese panel manufacturers such as BOE, Huaxing, and Huike. According to Omdia's report, these companies have reached 70% to 85% of the market for 65-inch, 75-inch, and 85-inch LCD TV panels, and almost 100% of the market for oversized LCD TVs (90 to 115 inches).

From January to May 2024, leading Chinese brands such as TCL and HiSense increased their panel procurement market share to 28%. Their early adoption and procurement of oversized panels (98 inches and 100 inches) from Chinese panel makers is particularly remarkable. This strategy not only helps panel manufacturers make efficient use of their display production capacity, but also supports Chinese TV brands to become global leaders in the oversized LCD TV market.

Korean panel makers are quickly turning to OLED TV displays, while Chinese panel makers are focusing on increasing the production of oversized LCD TV displays. Their goal is to produce 98 to 100 inch panels, and eventually produce 100 to 115 inch panels to make more optimal use of their 8.5 generation, 8.6 generation, and 10.5 generation TFT LCD production capacity, and they plan to use a 10.5 generation production line to produce panels over 115 inches. In 2023, Chinese panel makers drove a 63% year-on-year increase in oversized display shipments, and are expected to increase 35% year-on-year in 2024.

Deborah Yang, Omdia Display Research Director, said: “Since the second quarter of 2023, demand for oversized TVs has increased, particularly from first-tier Chinese TV manufacturers with close ties to Chinese panel makers, such as HiSense and TCL. Since the first quarter of 2024, China and North America have been the largest markets for oversized TVs, and these brands are leading the promotion of oversized TVs with higher product specifications.”

“Hisense is also starting to promote 100-inch LCD TVs in Europe in response to the 2024 European Cup. In 2023, TCL's oversized LCD TV shipments were far ahead, followed by Hisense, Skyworth, Xiaomi, and Samsung. Hisense aims to achieve a 26% year-on-year increase in 85-inch TV shipments and a 505% increase in 98-inch and 100-inch TV shipments in 2024. Meanwhile, Samsung and LG Electronics plan to use 100-inch panels from Chinese suppliers in 2025 shipments.”

In the fourth quarter of 2023, China's price war spread to 98-inch and 100-inch TVs, of which 100-inch LCD TVs cost less than RMB 10,000. In the beginning, oversized TVs were profitable, but now Chinese brands are aiming to increase their global market share by lowering prices to increase their global market share. Omdia believes that in the fourth quarter of 2024, 100-inch LCD TVs may be promoted at a price of RMB 6,999, which may result in losses. Panel makers' strategic support is critical to increasing the adoption rate of oversized TVs.