Mini LED TVs Could Become More Popular Than OLEDs in 2024

Mini LED TVs, a relatively recent technology compared to the age-old OLED tech, could finally surpass the latter in terms of market share, as per a new report from Market research agency Luotu Technology. The report was shared at the recent UBI research conference held in Seoul, South Korea.

According to Luotu Technology, Mini LED TV shipments could surpass OLEDs for the first time in 2024. The report predicts this year’s shipments of Mini LEDs will reach 6.8 million units, managing to surpass OLEDs with a marginal lead of 0.4 million. The firm notes that Mini LED TV shipments have been catching up to OLED in the past few years.

The reason why Mini LEDs are catching up is not just because of increased popularity, but also due to OLED shipments seeing a sharp decline in 2023. Compared to 2022, shipments for OLED TVs decreased by 20.6% during the last year. Meanwhile, Mini LEDs showed a growth of 24.7% year-on-year for the same period.

The total shipments for OLEDs and Mini LEDs stood at 5.48 and 4.25 million units respectively. The table below shows historical figures that go as far back as 2021 and predicted figures leading up to 2028.

Year Mini LED Shipments (millions) OLED Shipments (millions)
2021 2.3 6.5
2022 3.4 6.9
2023 4.25 5.48
2024 6.8 6.4
2025 10.2 7.1
2026 16.4 7.6
2027 21.6 8.1
2028 25.5 8.5


As shown by the figures above, although OLED TV shipments are projected to experience growth, the forecast for MiniLED TV shipments is notably more robust, expected to surpass its competitor by more than threefold.

Presently, the MiniLED TV market is dominated by key players including Samsung Electronics, TCL, and Hisense, whereas LG, Samsung, and Sony primarily lead the OLED TV market. According to The Elec, the future market share will be significantly influenced by TV shipments from Samsung Electronics, a major contributor to both technologies.

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