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It is estimated that China's OLED TV sales will surge this year
The television industry experienced significant shifts in 2017, with rising prices of upstream panels and fierce competition among internet TV brands driving a need for innovation. Consumer demands were evolving, prompting product upgrades and pushing color TV companies to seek new growth avenues. Technological advancements became essential for industry survival, with OLED emerging as a key focus for future strategies.
This year, OLED TVs saw remarkable success in the Chinese market. According to Ovid Cloud Network (AVC) data, from January to May 2017, retail sales of OLED TVs increased by 86.3% year-over-year. In the first half of 2017, OLED TV sales in China surged by 96% compared to the previous year. It’s projected that annual retail volumes will reach 160,000 units, representing a 167% increase year-on-year.
Three key factors contributed to this surge: increased panel production, strategic layouts by major TV companies, and industry-wide promotional efforts. Panel manufacturers ramped up production, with IHS Markit reporting that 46 new OLED panel factories will be established globally from 2016 to 2020, significantly increasing global production capacity. LG Display, the world's leading OLED supplier, plans to open an 8.5-generation production line in Guangzhou. Meanwhile, domestic players like BOE and Huaxing Optoelectronics are also investing heavily in OLED technology, fostering competition and driving down costs.
TV giants are embracing OLED technology. By 2017, the number of Chinese OLED TV brands expanded from 1 to 5, and the OLED camp grew from 5 to 13. Companies such as Skyworth, Sony, Changhong, Konka, Philips, and LG are all heavily promoting OLED TVs. Innovative designs include transparent OLEDs, curved screens, and even wallpaper TVs, offering consumers more premium options.
Industry alliances are also playing a crucial role. LG Display spearheaded the creation of the "China OLED Display Industry Alliance," uniting over 30 upstream and downstream partners. Experience halls showcasing OLED innovations have opened across major cities, bringing these technologies closer to consumers.
Skyworth stands out as a pioneer in OLED adoption. They’ve been instrumental in shaping the domestic OLED market since 2008, launching numerous groundbreaking products. Their Wallpaper TV, released earlier this year, exemplifies futuristic design with a thickness of just 3.6mm. Skyworth also pioneered the mass production of OLED TVs, becoming the first in China to do so in 2014.
Their promotional efforts have been equally impactful. Skyworth reduced the price of 55-inch OLED TVs by 20%, driving a 351% year-on-year sales increase during the discount period. This move accelerated the decline of LCDs and cemented OLED's position as the future of TV technology.
With these developments, China’s OLED TV market is poised for explosive growth. Companies like Skyworth, who embraced OLED early, are reaping the benefits. Executives predict that Skyworth’s OLED TV sales will grow tenfold in 2016, signaling the dawn of an OLED revolution.
As consumers increasingly seek premium experiences, the future of OLED in China looks bright. Companies that seize the initiative today will dominate tomorrow. For those late to the game, the lead established by leaders like Skyworth may prove insurmountable.