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Mini LED TVs Gain Popularity in China, Driving Global Market Growth
As technology matures and the supply chain improves, Mini LED TVs are becoming more affordable. Over the past two years, they have seen explosive growth in China's TV retail market. According to AVC (All View Cloud) data, Mini LED TV sales in China are projected to reach 5.56 million units in 2024, a staggering fivefold increase from 942,000 units in 2023. This surge has boosted Mini LED TVs' share of the overall TV market to 18.0%, up 15 percentage points year-over-year.
The booming Mini LED market has attracted major brands, making it a key battleground. In 2024, the number of new Mini LED TV models launched in China reached 309, a significant jump of 193 compared to the previous year.
Samsung has long dominated the global Mini LED TV market, holding over half of the market share and leading in global TV shipments. However, TrendForce reports that the growth momentum in 2024 is primarily driven by the Chinese market. Local brands like TCL, Hisense, and Xiaomi are seeing their Mini LED TV sales soar, reshaping the competitive landscape.
With prices becoming more accessible and a flood of new models, Mini LED TVs are set to play an even bigger role in the global TV market, especially as Chinese brands continue to gain traction.
As technology matures and the supply chain improves, Mini LED TVs are becoming more affordable. Over the past two years, they have seen explosive growth in China's TV retail market. According to AVC (All View Cloud) data, Mini LED TV sales in China are projected to reach 5.56 million units in 2024, a staggering fivefold increase from 942,000 units in 2023. This surge has boosted Mini LED TVs' share of the overall TV market to 18.0%, up 15 percentage points year-over-year.
The booming Mini LED market has attracted major brands, making it a key battleground. In 2024, the number of new Mini LED TV models launched in China reached 309, a significant jump of 193 compared to the previous year.
Samsung has long dominated the global Mini LED TV market, holding over half of the market share and leading in global TV shipments. However, TrendForce reports that the growth momentum in 2024 is primarily driven by the Chinese market. Local brands like TCL, Hisense, and Xiaomi are seeing their Mini LED TV sales soar, reshaping the competitive landscape.
With prices becoming more accessible and a flood of new models, Mini LED TVs are set to play an even bigger role in the global TV market, especially as Chinese brands continue to gain traction.
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