The premium TV market is booming, growing 51%in the fourth quarter, with some surprising names in the industry becoming major players in the high-end TV category and upsetting an industry giant. According to Counterpoint Research, premium TV shipments grew 51% year over year, fueled by growth of more than 170% for MiniLED LCD TVs, which have surpassed OLED TV shipments since the second quarter. QD-LCD TVs also grew by more than 46%, exceeding 5 million units for the first time in terms of quarterly shipments.

For the year, shipments of premium TVs, defined as QD-LCD, NanoCell, LCD 8K, QD-OLED, WOLED and MicroLED TVs, grew by 38%.

TCL Chews Away at Samsung’s Dominance

Samsung is still the leader in the premium TV category, as well as the overall TV category, but Chinese manufacturer TCL is now hot on its heels, leaping past LG in the premium category to grab second place, which it also holds in the overall TV shipment category.

Notably, TCL has released products that directly compete with Samsung, including the TCL NXTFRAME, a lifestyle TV designed to turn into work of art when not showing movies or TV. This competes with Samsung’s The Frame, which has largely been in a category of its own until recently.

According to Counterpoint Research, Samsung’s share of the premium market fell to 29% in the fourth quarter of 2024 from 41% in the same period in 2023. TCL, meanwhile, jumped from just 12% in the fourth quarter of 2023 to 20% in the same quarter of 2024.

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Another Chinese TV maker, Hisense, also reported gains in the premium market, from 10% in Q4 2023 to 16% in Q4 2024. Like TCL, Hisense has also gotten into the art TV game with the CanvasTV. LG, meanwhile, fell from 26% to 19% over the same period.

According to Counterpoint, South Korean TV companies like Samsung and LG still have an overwhelming position in the premium TV market in North America, recording a 53% share in terms of sales, but that is likely to dwindle even further as Chinese companies like TCL and Hisense continue to grow in the region

Overall TV Shipments Up 2%, but Tariffs Loom

Globally, overall TV shipments in Q4 2024 grew 2% year over year to reach 61 million units, according to Counterpoint. Annual TV shipments in 2024 reached 230 million units, which was also a 2% increase from 2023.  

While most regions showed growth, Japan and Asia showed a shrinking TV market, declining 15% and 4% year over year, respectively.

Samsung and TCL are also competing in the overall market, with Samsung retaining a 16% share in Q4 2024 and TCL with a 14% share. Hisense, meanwhile, took third place with a 12% share. LG remained stagnant with a 10% share, similar to its Q4 2024 data.

These global TV rankings could be further impacted due to U.S. President Donald Trump’s tariffs against key manufacturing hubs such as Mexico and China. TVs produced in Mexico will be impacted by the 25% tariff on Mexico, and South Korean companies that account for the majority of the North American market will be affected more.

“Therefore, countermeasures are urgently needed to prepare for each situation,” Counterpoint Research researcher Calvin Lee said in a statement.  

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