TVs back in demand: 223 million TVs to be shipped in 2021

array of smart TVs
(Image credit: Internet)

Global television shipments are expected to touch an impressive 223 million TVs to in 2021, according to a market research firm. This number is 2.8% more than the shipments made last year. 

According to the market research firm TrendForce, the continuation of the Covid-19 pandemic and marquee sports events like the Tokyo Olympics and the UEFA Championships would spur this growth.

TV shipments had hit rock-bottom levels till the pandemic, which pushed people indoors, kicked up the demand last year.

However, recent shortages in IC products from upstream semiconductor suppliers led TV brands to push back their 4Q20 shipment schedules, resulting in a global TV shipment of 217 million units in 2020, a 0.3% YoY decline, the report said. 

Last year, prices of 40-inch to 55-inch TV panels rose by more than 60% in a mere six months, while prices of 32-inch panels more than doubled.

65-inch and plus TVs to be in demand 

The TrendForce report said that 2020 marked the first time when the combined market shares of the top five TV brands surpassed 60%. This is because upstream suppliers, including foundries and panel makers, have become increasingly selective of their clients, and tier one TV brands had an advantage in securing wafer capacities from foundries due to their massive order volume. 

The profitability of 32-inch to 55-inch TV units, which were the market mainstream, has plummeted.

TV brands are now redirect their procurement activities towards larger-sized panels. The second half of last year saw a 23.4% and 47.8% growth in 65-inch (and above) and 70-inch (and above) TV panel shipments respectively.

The report has forecast la potential 30% YoY growth in the shipment of 65-inch (and above) TVs this year.

Via: TrendForce

Balakumar K
Senior Editor

Over three decades as a journalist covering current affairs, politics, sports and now technology. Former Editor of News Today, writer of humour columns across publications and a hardcore cricket and cinema enthusiast. He writes about technology trends and suggest movies and shows to watch on OTT platforms.