8K TV market predicted to grow in 2019
From expensive acorns...
Despite some hesitant reports about the challenges that 8K TV and broadcasting face, industry observer and global information analysts, IHS Markit, have recently released figures that indicate a solid start for the newly available technology.The first consumer-facing 8K TVs were released last year and 2019 has seen a continuing trickle of models hitting the market. As with most new technologies, the initial products are seen as luxury items and sport prices to match.
However, now that LG and Sony have announced release schedules for their 8K models, Samsung’s Q900R from 2018 and this year’s Q950R no longer have the playing field to themselves. Already, some of the astronomic prices of the very largest screens are coming down with Samsung cutting $30K off their 98-inch 8K Q900R to bring it more in line with Sony’s 98-inch ZG9/Z9G at around $69K.
Clearly, figures like those are out of the range of most TV fans. The good news is that, although it can hardly be described as entry-level, Samsung’s 65-inch Q950R starts at £4,999, so procuring an 8K TV is possible, for some at least.
And while the market continues to adjust itself as more 8K models become available, Business Korea has recently reported that IHS Markit has forecast the number of shipped 8K TVs will rise from 38,000 in 2018 to 345,000 units in 2019 - an increase of 807 percent. This will represent a surge in sales from $27 million to $247 million.
The story goes on to quote a TV industry observer, who confirms, "Major TV makers are launching 8K TV models one after another, expediting the growth of the 8K display market."
With a reported 59.7per cent of the 8K display market, Samsung Display - who were reported as having shipped 22,000 units in Q1 of 2019, more than any other manufacturer - continues to be at the forefront of gaining an 8K foothold and overall, 8K LCD panel shipments are expected to dominate for a while. Indeed, it is predicted that, of the 345,000 units expected to be sold this year, the vast majority of them will be LCD based with only 5,000 OLED amongst the quoted sales figure - no doubt mainly due to the fact that the only available 8K OLED is LG’s 88-inch OLED88Z9, which costs $34,000.
With a range of screen sizes starting at 65-inches LCD panel makers will no doubt have the lion’s share of the market until OLED TV makers can release a similar range of screen sizes. IHS Markit comments that OLED prices tend to run about 1.5x higher for matching panel sizes since these TVs are regarded as a premium product.
All this might come as good news for Korean panel makers who are experiencing a slump in the face of stiff competition and recent overproduction from Chinese rivals. While the 4K display market is seen as saturated, 8K display manufacturing is still relatively untapped and provides opportunities for the likes of Samsung Display and LG Display of Korea, plus Innolux, AUO and Sharp of Taiwan who are currently the only 8K display makers.
The industry seems determined that 8K will soon be a part of consumers’ living rooms but with 4K only just becoming mainstream itself, are they getting ahead of themselves or running a smart business approach to preparing the market for the latest innovations.
Let us know in the discussion thread.
Image Source: Samsung
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