Global TV shipments to fall 8.7% in 2020: Omdia

This year’s global TV shipments are expected to fall 8.7% on-year in 2020 to 203.5 million units in the aftermath of the coronavirus outbreak that has dampened consumer sentiment, according to market research firm Omdia on April 1.

Prior to the pandemic, Omdia had put the shipment volume at 225.4 million to reflect a 1.1% increase from 2019. Compared to this initial projection, Omdia’s latest figure was down by 9.7% on-year.

In addition to the impact of social and physical distancing triggered by the coronavirus, Omdia cited the postponement of global sporting events such as the Tokyo Olympics and the Euro2020 as reasons behind the sluggish TV market growth.

Particularly in the second quarter of this year, Omdia forecast TV shipment to tumble 16% on-year based on the growing volume of retailers cancelling TV orders. The Asian markets, namely China may pick up, it said, but Europe and the US would likely see at least 40% declines as the coronavirus takes its toll.

Omdia added, however, that historically, TV makers were affected not too much by macro-economic conditions. As a case in point, it cited the solid TV market figures during the 2008~2009 financial crisis. The TV markets in emerging countries, however, may come under bigger influence, it said.

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