As far as new televisions go, bigger is most definitely better, if the latest forecast from the market research firm Omdia is to be believed.
Omdia’s report predicts that sales of “ultra-large TVs”, which it defines as sets of 80-inches and larger, will grow by 44% over the next five years, amid a push by brands such as Hisense, TCL, and more recently, LG Electronics, Samsung Electronics and Sony Corp.
The concept of monster-sized TVs was first popularised by TCL, which began promoting its 85-inch and 98-inch Mini-LED models a couple of years ago with heavily discounted prices, and Hisense has since jumped on the bandwagon with Mini-LED TVs of 100-inches and beyond.
Omdia’s principal analyst for TV Matthew Rubin said ultra-large TVs are sold for “considerably lower prices” nowadays than they were in the past, making what was once a premium category accessible to more consumers.
“This stark change in pricing dynamics is being driven by a combination of manufacturing efficiencies and Chinese brands prioritizing market share and brand visibility over profitability in the $1000-plus premium segment,” Rubin explained.
The vast majority of ultra-large TVs sold today are LCD models with some kind of LED backlights. OLED and MicroLED models are said to be superior in terms of picture quality, but the ultra-large versions tend to be prohibitively expensive for most consumers, with prices sometimes reaching into triple-digits.
But given the proliferation of cheaper LCD TVs, Omdia believes that overall ultra-large sales will accelerate from 9 million units this year to 13 million in 2029, with China and North America accounting for most of those purchases. Intriguingly, it seems TV makers will be increasingly reliant on sales of these models to ensure they can maintain their revenue growth. That’s because Omdia forecasts relatively weak growth in the overall TV market, with 209 million units expected to be sold this year, inching up to just 211 million units by 2029.
Omdia said it believes the emergence of a more advanced form of LCD display, known as RGB LED, is likely to play its part in the growth of ultra-large TV sales, but says the technology will also filter down to smaller TV models very soon.
Indeed, Hisense, which launched one of the world’s first RGB LED TVs last month in the shape of its 116-inch UX RBG-MiniLED TV, has already hinted at plans to launch much smaller versions next year, and it could well be joined by Samsung and Sony. Samsung was actually the first company to launch an RGB LED TV, doing so just one day before Hisense, but like its rival its first 115-inch model came with a five-digit price tag that makes it unobtainable for most consumers.
Fortunately, both Samsung and Sony are said to be working on bringing RGB LED to much smaller models too, and LG Electronics is also thought to be planning the same.
