Quite surprising to be sure, but a welcome one. TCL makes affordable yet high-quality TVs.
TCL is a Chinese corporation whose main products are displays and televisions. As a Chinese manufacturer, TCL had the capability to mass produce TVs. They are also one of the main sellers of televisions in the United States. Their affordability, combined with quality, made it possible for them to surpass LG to be the second largest TV manufacturer worldwide in terms of unit sales. They’re now right behind Samsung.
“TCL large-size TVs have received significant growing momentum over the past year and remained no.1 in the global 98-inch TV market share” said OMDIA in their report.
Through a publication called Business Korea, we were able to gather data about their market share in terms of unit sales. Samsung ranks first, accumulating 16.7% of the market, TCL at second with 11.7%, LG at a marginally close third, at 11.69%, HiSense is fourth at 10.5%, and Xiaomi, surprisingly, made it to the top five at 6.2% despite them not in their forte to sell TVs. This means that 3 of the 5 manufacturers originated in China. Where’s Sony in this? Frankly, they’re in the top seven.
However, the story is a little different when measured in terms of revenue where LG remained second behind Samsung (TCL remained third). Samsung accumulated 29.7% revenue share, LG at 16.7%, and TCL at 9.4%. The main reason for this is because Samsung and LG were able to manufacture more and sell more of their premium TVs faster than TCL does.
The company has a large presence in CES 2023 in which it won two CES 2023 Innovation Awards for two of its models: the TCL Mini LED 4K TV C935 and C835 respectively. TCL said that their mini LED TVs would soon come in XL sizes. These two Mini LED TVs would also be available globally soon, so stay tuned.
Global TV sales declined to 4.8% last year versus 2021 due to lower demand in markets such as Europe and North America.