Report Says Global TV Shipments Soared in 2020

Since more people are stuck at home now, more of them are buying TVs. A new report shows that global TV sales have hit a “record high” in the third quarter of 2020. 

Global TV Shipment Numbers

According to The Verge, 62.05 million TVs got shipped out during the third quarter. This number represents a 12.9% increase from 2019 and a 38.8% increase from the previous quarter. These numbers also came from a TrendForce report. Today, Samsung and LG said that they expect more profits this quarter over last year. Both companies are the largest TV makers in the world.  

Why Are People Buying So Many TVs?

In the TrendForce report, people in North America buy many TVs because they have nothing else to do at home. Since the pandemic struck, the demand for TVs spiked by 20% in North America.  

Big Winners

All major TV manufacturers saw a spike in unit sales. However, TCL sits at number one with a 52.7% year-over-year increase in units shipped. On the other hand, Samsung’s shipments rose by 36.7% year-over-year, with a 67.1% increase from Q2. LG saw only slight increases, with a 6.7% rise from Q3 2019. However, LG’s shipments surged by 81.7% since last quarter.

While Samsung seems to have gained from TV shipments, CNBC says its smartphone sales drove up its profits. Meanwhile, LG owes its surge to its TV and home appliance operations. 

However, this good news may not last long. TrendForce predicts that TV shipments might dip overall in 2020, compared to 2019.