Samsung confirms it will focus on QD-OLED, Neo QLED and extra large TVs after competition from Hisense and TCL delivers new challenges in the budget sector.
As part of the brand's first quarterly earnings report for 2024, Samsung revealed an insight into how its many different divisions are doing; covering everything from automotive to computer storage and (the one we're most interested in) The Virtual Display Business, which is home to its TV department. So how has Samsung's TV branch performed this year thus far?
Samsung's focus on premium sets including 8K and QD-OLED seems to have paid off here, however, taking a wider look at the market year-on-year isn't quite as positive. Samsung reports that profitability has declined, citing stagnant TV market demand and an increase in manufacturing costs amid intensifying market competition. While we can't say for certain, we presume that Samsung is feeling the pressure from its Chinese competitors in this regard, as the likes of Hisense and TCL are consistently sneaking up in the market rankings.
Future predictions have also been made, and currently it's looking like it could go one of two ways. Samsung fears that market demand will remain weak due to a lack of demand in emerging markets, however, a sporting event-filled Summer (Paris Olympic Games, UEFA European Football Championship and Wimbledon) might be the saving grace for Samsung in the second quarter of 2024. Samsung's Visual Display Business intends to focus on "securing profitability, enhancing sales of strategic products and strengthening operations management in each business segment" in order to minimise the impact of this potentially weak demand.
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Read our full Samsung S95D OLED TV review
And find the full Samsung 2024 TV lineup here
As well as the best Samsung TVs
