Global sales of 8K TVs down nearly 30% on high price, energy regulations

Samsung Electronics Co.’s 8K QLED TV. [Courtesy of Samsung Electronics]

Global sales of 8K resolution TVs - dominated by South Korea’s Samsung Electronics Co. and LG Electronics Inc. - fell nearly 30 percent in the first half of this year due to high prices and energy regulations, data showed Tuesday.

According to market research firm Omdia, global sales of 8K TVs totaled 134,400 units in the first half of this year, down 28.6 percent from 188,200 units in the first half of last year. The figure is in contrast to how sales of the industry’s mainstay 4K TVs saw a 5.8 percent growth during the same period.

All regions except Latin America, Central Asia, Africa, and Eastern Europe saw declines. The largest decline was in China. Sales of 8K TVs in China halved to 25,500 units from 65,000 units during the cited period.

Sales in Japan also fell 39.8 percent, North America 33.1 percent, and Western Europe 20.1 percent.

8K TVs, with a horizontal resolution of 8000 pixels, offer four times the clarity of 4K TVs.

Since Japan’s Sharp Corp. first introduced 8K TVs in 2017, both Samsung Electronics and LG Electronics carried out investments in the new segment, identifying it as a new growth driver.

Currently, Korean companies account for about 70 percent of the global 8K TV market.

Demand for 8K TVs, however, has recently waned due to various reasons.

One is the high price. While the price is much lower than in the initial days, 8K TVs still cost around 10 million won ($7,482). Depending on the size, they can cost tens of millions of won.

The lack of content for 8K TVs also contributes to the sluggish sales.

In many countries, including Korea, 8K video equipment has not yet become ubiquitous, resulting in a shortage of 8K content.

Additionally, the European Union’s energy efficiency regulations have dampened the 8K TV market. Since March, the EU has applied a significantly enhanced energy efficiency index to 8K TVs. In response, Korean manufacturers have slightly dimmed bright screens to escape regulation.

The slump in the 8K TV market is expected to continue for some time. Omdia predicts that the market will not recover last year’s sales volume until 2026.