TV shipments have seen a significant uptick in the first quarter of the year thanks to a positive sales period in North America.
According to new data from TrendForce, global TV shipments increased by 11.5% year-over-year in Q1 2021 to reach a total of 49.96 million units.
The growth is attributed to bullish sales in North America, partly motivated by March’s US$1,400 stimulus checks for most citizens. China and Europoe however underwent a slowdown due to the cyclical downturn.
The report also notes that extended lead times for components contributed to some shipments being deferred to Q2. TV panel prices have also skyrocketed over the past year, making it largely unprofitable for brands to sell sets under the size of 43-inches.
As a result, the research firm has revised its forecast of TV shipment for Q2 up to 52.38 million units, a 4.8% increase quarter-over-quarter.
TV shipment for the second half of the year however is expected to undergo a 6.7% decrease year-over-year. This is owing to the impact of material shortage and cutbacks in mid-sized and small-sized TV shipments.
The analyst is decreasing its overall 2021 forecast of TV shipments from 223 million units to 221 million units. This would still represent a 2% increase year-over-year.