OYSTER BAY, N.Y.—Much like the rest of the world, 8K TVs are not having the 2020 they expected. Manufacturers of TV panels capable of displaying the high-resolution had hoped for a strong showing of sales, but as ABI Research reports, those numbers were impacted by the COVID-19 pandemic.
ABI’s latest report reveals that the overall flat-panel TV market is sluggish in 2020 because of economic uncertainties. There was expectation that 8K-capable TVs would help boost the market, but the one-year delay of the 2020 Olympics, which was going to consist of 8K content, is among the key factors that have led to low 8K TV unit shipments for 2020.
Flat-panel TV makers are still pushing 8K TV sets, though. Samsung and LG are reportedly aiming to increase 8K TV sales to generate higher revenues and profit margins. Samsung has offered promotional prices for its 8K TV sets as a way to counteract many consumers’ economic challenges from the pandemic, ABI says.
“Although 8K TV set price points have declined from a year ago, the cost of most 8K TV sets is still relatively high, ranging from $3,500 to $30,000,” said Khin Sandi Lynn, industry analyst at ABI. “High cost and lack of content will delay 8K TV set adoptions.”
ABI estimates that just 1% of worldwide flat-panel TV shipments in 2021 will be 8K TV sets.
For more information, visit ABI’s website.
