Total shipments of Mini LED-backlit LCD TVs lower than expected


Total shipments of Mini LED backlit LCD TVs are expected to be 3 million units in 2022, lower than Omdia's previous forecast. Omdia has also revised down its shipment forecast for 2023.

Declining demand in the high-end TV segment is the main reason for the downward revision. Another key factor is competition from WOLED and QD OLED TVs. Meanwhile, shipments of Mini LED backlit IT display panels remained stable, thanks to their use in Apple products.

According to the report, the shipment of Mini LED backlight TVs in 2021 will be close to 2 million units, four times the shipment in 2020. Encouraged by this positive performance, many TV makers have raised their shipment targets for Mini LED backlit TVs in early 2022.
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However, the final shipment results for the end of 2022 were disappointing. The total shipment of Mini LED backlit LCD TVs in 2022 is expected to be 3.1 million units. Samsung boosted its shipments in this segment to more than 2 million units. However, the shipments of TCL and LG Electronics have not increased. In addition, newcomers such as Sony and Hisense have only achieved a slight increase in the shipments of Mini LED backlight TVs.

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The main reason for the lower shipment forecast must be the decline in demand in the high-end TV segment. Due to the global economic downturn, many TV manufacturers' high-end TV sales have been hit hard. Shipments of OLED TVs will also remain at 7.4 million units in 2022, almost on par with 2021. In 2023, Samsung plans to increase shipments of its QD OLED TVs, expecting the technology to give it a unique competitive advantage. Since Mini LED backlight panels compete with OLED panels in the high-end TV field, and Samsung’s Mini LED backlight TV shipments have always maintained the first share, this move by Samsung will seriously affect the Mini LED backlight TV market.

In view of this, Omdia has lowered its shipment forecast for Mini LED backlight TVs: the previous forecast for Mini LED backlight TV shipments in 2023 was more than 10 million units. Now, that number has been revised down to only 5.7 million units. And by 2026, shipments are expected to reach 20 million units, also lower than the previous forecast of 26 million units.

At the same time, the shipment of Mini LED backlight IT display panels is expected to be 15.8 million pieces in 2022. Shipments will be 14.3 million in 2021, and Omdia previously forecast 16.8 million in 2022. This is arguably a stable forecast, not one of the sharp downward revisions seen in TV shipment forecasts.

More than 90% of the shipments of Mini LED backlit IT display panels are used in Apple products, such as 12.9-inch iPad Pro and 14.2 and 16.2-inch MacBook Pro. The recession and global supply chain issues have had relatively little impact on Apple. In addition, Apple's delay in adopting OLED panels in its products is also helping to stabilize demand for Mini LED backlit IT display panels.

However, Apple may adopt OLED panels in its iPads in 2024 and extend them to MacBooks in 2026. As Apple adopts OLED panels, the demand for Mini LED backlight panels in tablets and laptops may gradually disappear.

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