China is set to be the world's largest market for organic light-emitting diode (OLED) televisions in the coming two or three years, China Daily reported Thursday.
Industry insiders believes that increasing numbers of affluent consumers in China want premium TVs that deliver outstanding picture quality and wider viewing angles.
The price of OLED TVs will continue to fall in the next two years, with sales rising to 380,000 units this year, and reaching 800,000 units in 2020, said Wen Jianping, president of All View Cloud, a Beijing-based consultancy specializing in home appliances.
TV sales reached 47.74 million units nationwide last year, up 0.5 percent compared with the previous year. But related sales revenue only totaled 149 billion yuan (about 21.7 billion U.S. dollars), down 8.6 percent year-on-year, according to statistics from All View Cloud.
The data also showed the global shipment of OLED TVs reached 2.4 million units in 2018, an increase of 69.4 percent year-on-year.
"The OLED TVs will be the future development direction of the TV industry, and also an opportunity for TV manufacturers to expand their profit margins," Wen said, adding competition in the traditional liquid crystal display (LCD) sector is fierce, with the problem of seriously homogeneous products now showing up.
OLED is a relatively new technology and part of recent innovations in display. It has a fast response rate, wide viewing angles, super high-contrast images and richer colors. It is much thinner and can be made flexible, compared with traditional LCD display panels.