By Li Panpan

(JW Insights) Jun 27 -- Chinese TV supplier Hisense sets a single-quarter shipment record of 7.25 million units and ranks second in global suppliers in the second quarter of 2023, said TrendForce on June 27.

The global TV shipments for the second quarter of 2023 will reach 46.63 million units, up by 7.5% quarter on quarter and 2% year on year. The uptick in shipments is primarily due to strong stockpiling momentum from Chinese brands for the June 18(618) e-commerce shopping festival and overseas sales of some Chinese brands surpassing expectations.

This marks the first year-on-year growth observed in seven consecutive quarters, signifying that channel inventory has returned to healthy levels after an extended period of destocking, said TrendForce.

Looking ahead to Q3, the peak season for stockpiling, TV shipments are projected to increase by 13.5% quarter on quarter, totaling 52.92 million units.

The promotional prices for TVs ranging from 32 to 75 inches during China’s 618 sales have surged 10-20% higher than those during last year’s Double 11 online shopping day, primarily due to the continuous rise in panel prices. Brands have been offering discounts on 85-inch or larger sizes to sustain sales growth, said TrendForce.

Samsung topped the rankings in TV shipments with 8 million units, down by 13% quarter on quarter. TCL and Xiaomi ranked third and fifth with 6.2 million units and 2.29 million units, up by 19.7% and 1.8% quarter on quarter, respectively.