TAIPEI (TVBS News) — Worldwide television sales dipped to about one hundred ninety-five million units in 2023, falling by 2.7% from the previous year and hitting a new low in nearly a decade, according to TrendForce research released in February.
The first quarter of 2024 typically sees a slump in consumption, with global TV shipments expected to plummet by 18.9% to 43.28 million units.
Consumers' shift towards projectors or computers to save space and money contributes to the decline in TV demand.
However, experts foresee a potential uptick in market demand for TVs, anticipating a modest year-on-year increase of 0.3%, totaling approximately 196 million units for the year.
Vice President Wang Chien-chuan of the Chung-Hua Institution for Economic Research noted, "The U.S. has initiated interest rate cuts, likely stimulating TV demand. Also, recent signs indicate a gradual recovery in consumer electronics."
"Considering the 2024 Olympics, demand for the latest and larger-sized TV panels will likely rise, potentially driving growth this year," Wang added.
Predictions warn of possible price hikes for TV panels amid material shortages, with estimates suggesting increases of at least US＄1 for under 50-inch TVs, US＄2 for 55-inch TVs, and US＄2 to US＄3 for 65-inch TVs.
Wang explained, "The panel market, in a prolonged slump, has recently shown signs of recovery.