Mini LED TV explosion: shipments will exceed 11 million units this year

As the leader in the mid-to-high-end TV market, Mini LED backlight technology is experiencing explosive growth.

According to data from RUNTO, global Mini LED TV shipments will be 7.85 million units in 2024, an increase of 84.7% from 4.25 million units in 2023.

Among them, the shipment volume of Mini LED TVs in the Chinese market soared to 4.16 million units, a year-on-year increase of 352.2%, and the market penetration rate reached 11.6%, a significant increase of 9.1 percentage points from 2023.

Mini LED TVs will continue to surge in 2025. According to the latest forecast data from TrendForce, global Mini LED TV shipments will reach 11.56 million units this year, an increase of 50%.

Among them, the three major brands including TCL, Hisense and Xiaomi still focus on promoting Mini LED TV products, and the combined market share of these three brands will also increase to 64%.

On the one hand, Mini LED TVs can receive subsidies if they meet energy-saving standards. On the other hand, TCL and Hisense have superior backlight design capabilities and supply chain cost advantages. They can introduce new products quickly and at competitive prices.

On the other hand, the retail price of OLED TVs is still three to four times higher than that of LCD TVs equipped with Mini LED backlights. It is expected that OLED TV shipments will remain between 6.5 million and 7 million units in the future.