In brief: If you assumed TCL lagged behind LG in premium TV shipments, think again. The Chinese giant has outpaced its Korean competitor in this market segment. Samsung continues to lead, yet TCL’s market share grew by an impressive 8% year-over-year.
TCL, recognized for its cost-effective yet high-quality 4K, QLED, and Mini-LED televisions, more than doubled its premium TV shipments year-over-year in Q4 2024. According to Counterpoint Research (via Flatpanels), TCL captured 20% of global premium TV shipments, edging out LG, which held a 19% share.
Since Q4 2023, the shipment figures for the two companies have diverged—LG with a 26% share and TCL at 12% during that period.
Samsung continues to dominate the premium TV market. Although its share decreased from 41% to 29% year-over-year, it remains comfortably ahead of second-place TCL.
Chinese brands are experiencing robust growth in this sector. Hisense also increased its shipment share, rising from 10% in 2023 to 16% in Q4 2024.
With the flood of marketing terms in the TV market, the classification of a premium TV isn’t always apparent—mid-range TVs sometimes get marketed as QLED or Mini-LED sets.
Counterpoint categorizes QD-MiniLED, QD-LCD, NanoCell, LCD 8K, QD-OLED, WOLED, and MicroLED TVs as premium models. This segment witnessed a 51% YoY growth, achieving record highs in the fourth quarter, while full-year shipments went up by 38%.
Globally, in terms of overall TV shipments, TCL overtook LG in 2022, with Hisense following suit a year later. Samsung also dominates this area; however, its share is just 2 percentage points ahead of TCL’s.
Counterpoint highlights the rapid growth of Mini-LED LCD TV sales, which surged by over 170% YoY.
Although premium TV shipments have risen significantly, the overall TV market expanded by just 2% in the final quarter of 2024. Calvin Lee, a researcher at Counterpoint Research, advises that the 25% tariff on imports from Mexico, enforced by the Trump administration today, will affect Mexican-produced TVs. Samsung, LG, Hisense, TCL, Sony, Panasonic, and Vizio all have production—or rely on contract manufacturers—in the country.
