According to GfK, H1 2019 global TV revenues total €44 billion-- a -8% Y-o-Y decline, partly attributable to sales related to the 2018 FIFA World Cup. Global sales are set to total 210 million in 2019, a -2% decrease compared to 2018.
The analyst points out premium TV features, such as 4K resolution and OLED technology, are up in terms of sales share, while the TV sound ecosystem is thriving. For instance, 4K TV sales are up by 11% in H1 2019, and are expected to total 100m for full-year 2019. Meanwhile OLED penetration sees an 11% turnover share in Europe, and "robust" growth across the globe.
The year also sees upscale TV technologies trickling down into the lower price tiers. As a result, 4K TVs are more affordable for mass market consumers, and competitive pressure is on the up. Over 70 brands are selling 4K TVs in 2019, up from 30 in 2016, meaning 4K is fast becoming the standard for current TVs. Meanwhile 8K TV is still very much a niche product, what with ASPs of around €5800.
GfK points out an opportunity in external speaker systems-- while customers are "very happy" with the image quality of newly purchased TVs, the same cannot be said for audio scoring "below-average" on the sentiment score. Customers are ready to spend what they are saving on TVs on external speakers and soundbars, leading to soundbar revenues growing by 7% Y-o-Y.