According to TrendForce division WitsView, global TV shipments only declined "slightly" in 2019 by -0.9%, reaching 217.8 million units, but the ongoing coronavirus (aka Covid-19) pandemic should further affect the industry in 2020.
The pandemic has lead to stock and financial markets crashing, leading to significant damage to the confidence of consumers in the face of the economy. As a result, consumption of non-essential products has become more conservative. One such non-essential product is TVs, and shipments are set to drop by -5.8% in 2020 to 205.2m units. Further hurting the market is the postponing of major sports events, including the UEFA EURO 2020 and the 2020 Tokyo Olympic Games.