The release of more than 20 new products since the beginning of 2023 demonstrates the confidence of many brands in the Mini LED technology route. According to industry research, thanks to the characteristics of larger size, higher partitioned backlight, greater peak brightness, better color performance, as well as the advantages of gradually decreasing overall cost and price, Mini LED backlight TV has become a mainstream TV technology with relatively mature technology, average performance and cost, and high hopes from enterprises.
No price increase for new products if quantity is increased
From "people's choice" to "industry flagship", since 2023, TCL, Sony, Changhong, Hisense, Xiaomi and other color TV brands have successively launched new Mini LED backlight TV products, launching an all-round "competition" in areas such as the number of partitions, brightness, resolution and price.
Enter Mini earlier. TCL of LED TV, after launching new QD-Mini LED TV products TCL X11G and Q10G Pro on March 21, launched the C12G series QD-Mini LED TV in April, and released the Q10H flagship Mini LED TV in May.
Among them, the Q10G is relatively user-friendly. Compared with the Q10G in performance such as partitioning, brightness, screen and sound quality, the Pro has been fully upgraded, but the price has dropped instead of rising. The 85-inch product is priced at 10,999 yuan, which is lower than the initial price of the Q10G released in the same period last year, and the price/performance ratio is further improved.
TCL X11G is positioned as a high-end model. It is the first product in the industry to achieve "dual 5000" performance - 5184 partition backlight + 5000 nit peak brightness. The 75-inch product is priced at 19,999 yuan. The new TCL C12G and Q10H products in April and May start at 10,999 yuan and 9,999 yuan respectively.
Changhong 8K High-Brush Mini-LED Q9K MAX Pilot Edition TV
It’s not just TCL that is making frequent moves. In March, Sony released its Mini LED TV The new LED TV product starts at 12,999 yuan and is the first 100-inch Mini LED product with 1600-level partitions in the same price range. In April, Xiaomi’s first Master 86-inch 4K Mini LED TV was launched for 14,999 yuan. In May, Panasonic launched its first Mini LED TV, the MX950, equipped with quantum dot film, which has functions such as enhanced image vividness and AI artificial intelligence.
Xiaomi Master 86-inch 4K Mini LED TV
Through comparison, it can be found that Mini LED backlight TV has gradually clarified the two development directions of high-end and cost-effectiveness. Products of 75 inches or above have become the trend of brand layout in the Mini LED TV market. In terms of image quality, the backlight partitions are becoming more and more refined, and the color expression is gradually improving.
Liu Fei, research director of the Consumer Electronics Division of AVC, told a reporter from China Electronics News that under the background of consumption upgrading, users' demand for TVs with high image quality, high sound quality, high parameters and large size has increased, which has also become the main direction for TV product upgrades. Mini LED TV upgrades the color and brightness dimensions based on traditional LCD TVs to meet users' high-quality needs. In 2023, Mini LED TV products will be more abundant, participating brands will continue to increase, and the technology field will still maintain rapid growth. It is expected that the retail sales share of Mini LED TVs throughout the year
will reach 3%.
Overwhelming OLED and laser TV
The color TV industry is deep in the existing market, and major companies are "betting" on new display technologies to stimulate consumers' replacement needs. AVC data shows that domestic Mini LED TV sales in 2022 will reach 395,000 units, a year-on-year increase of 385.3%; while OLED TV sales in the same period will be 206,000 units, a year-on-year decrease of 29.9%; laser TV sales will be 121,000 units, a year-on-year decrease of 7.4%. Mini LED TV is “unparalleled” among new display technologies.
Entering 2023, GfK Zhongyikang data shows that in the first quarter, the color TV market segment focused on Mini LED backlight TV and high-speed refresh rate TV. The online and offline market retail sales share of Mini LED backlight TV reached 3.5% and 8.4% respectively, with year-on-year growth of 2.4% and 5.
6%.
In terms of picture quality, Mini LED TV has a contrast ratio comparable to that of OLED TV. Compared with the latter, it also has advantages in peak brightness, color gamut, clarity, lifespan, yield, cost, etc. After adding QLED technology, the color presentation is more pure and the color gamut is wider.
Price has always been the key obstacle to further opening up the market for Mini LED backlight TVs. Judging from the prices of new products released this year, the price of cost-effective products has been reduced to 5,000 yuan, and the starting price of high-end products is gradually falling to 10,000 yuan. Price performance is boosting the popularity of products.
Behind the decline in the cost of Mini LED TVs is the active layout of Chinese manufacturers in upstream materials, chips, midstream packaging, modules, and downstream displays.
Chip side pair Min
The quality and performance of iLED TVs are crucial. Sanan Optoelectronics has launched a 7.9 billion yuan private placement project, aiming at the industrialization of Mini/Micro displays; Huacan Optoelectronics has signed and approved Mini LED-related projects in Zhangjiagang and Yiwu, Zhejiang respectively; Qianzhao Optoelectronics’ Mini/Micro LED project has settled in Xiamen; Bolant Semiconductor’s Mini/Micro LED sapphire substrate project has been signed and implemented.
Packaging and module factories continue to expand production and capacity, Hongli Zhihui Mini/MicroLED Phase I project was put into production; Xinruida Mini/Micro new display industry base project started construction; Vogel Optoelectronics' multiple Mini LED projects are making progress. Nationstar Optoelectronics, Hongli Zhihui, etc. already have Mini LED backlight mass production capabilities, which will help further reduce the cost of Mini LED products and promote the application of Mini LED technology.
Chinese brands drive the formation of economies of scale
"Compared with foreign brands, Chinese brands led by TCL and Hisense are more active in planning Mini LED TV products and actively seize the market share of mid-to-high-end products. This is expected to promote supply chain cost optimization, thereby driving more brands to enter the market and creating economies of scale." Sun Jian, a senior analyst at Sigmaintell, told reporters.
"China Electronics News" reporter learned that TCL has continued to upgrade its backlight solutions this year, moving the backlight solutions below 500 partitions closer to higher partitions to improve product performance. Sun Jian predicts that TCL's global Mini LED backlight TV market shipments in 2023 will be close to 400,000 units. While maintaining stable growth in the Chinese market, it will actively expand into European and North American markets and seek opportunities for structural transformation in overseas markets. Hisense U8/U7/U6 has upgraded its Mini LED backlight solution across the board, with sizes ranging from 50 inches to 85 inches. The product layout is used in multiple scenarios, and comes with a game mode and a 144Hz high refresh panel.
It is expected that Hisense's global Mini LED TV market shipments will reach 300,000 units in 2023, showing an accelerated growth trend.
Sony XR-85X95EL Mini LED TV
Samsung, LG Electronics, Sony and other foreign brands are relatively conservative in their Mini LED display strategies. Sun Jian pointed out that consumers’ acceptance of Mini LED backlit TVs in markets such as North America and Europe needs to be cultivated. It is expected that Samsung’s global Mini LED backlit TV shipments will slow down in 2023. Affected by supply chain cost factors, LG Electronics will only iterate a single product line, QNED85, in 2023, and its high-end products will still be dominated by WOLED TV products. Restricted by cost factors, Sony's product line has not expanded and its shipment scale is expected to remain at a low level.
Dong Min, deputy secretary-general of the China Electronic Video Industry Association, told a reporter from China Electronics News: "With the recovery of various economic activities, the return of users' consumption attitudes, and the decline in the overall cost of Mini LED, Mini LED has the opportunity to gain a large number of market users."
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