Samsung Mini-LED/QD TV Update
As we have noted, TV brands have cut orders in order to reduce excessive inventory levels, particularly as inflation reduces consumer demand. While tracking the price of the hundreds of TV models available to consumers, we have been tracking the pricing of Samsung’s (005930.KS) Mini-LED/QD TV lines both this year and last year in order to see how Samsung reacts to seasonality, macro events, and inventory management. As the TV sets in this line encompass prices ranging from $15,000 to $450, it gives an indication as to the general tone of premium to mid-range TV pricing. While we don’t check pricing on a set schedule, as holidays and events play an important part in TV pricing, most of the intervals are between 3 and 4 weeks so charts look relatively normal, and our data today is just over 1 month from our last check.
Discounting to move inventory was not Samsung’s theme over the last month, as on an overall basis prices on all 2022 Mini-LED/QD and QD only models increased by 1.8%, while 2021 models saw a 2.0% increase. 2022 8K models saw an unusual price increase of 7.0%, after a drop to their lowest price point last month, while last year’s 8K models saw little change. 2022 4K Mini/QD models saw a 3.0% price increase with 2021 models jumping 5.7% and this year’s QD only sets saw a 2.1% price decrease (the only category that saw a decrease), while last year’s QD only sets saw a small (0.2%) price increase. 8 of this year’s models were at their lowest price of the year while 2 were at their highest, while 16 of last year’s models were at their lowest price and 4 at their highest.
All in, we expect Samsung was more concerned with margins than moving inventory during the last few weeks, albeit contrary to expectations, and pushed prices back up to previous levels after a short July 4 discounting period. Figure 1 shows the four general categories across the line and how 2021 and 2022 pricing has changed, while Figure 2 shifts the 2022 models back in time to compare new model price changes to the same time period last year, which shows how 2022 model pricing has progressed relative to last year. We note that 2022 4K Mini-LED/QD pricing includes 4 models that did not exist in the 2021 line, making average set pricing higher this year although the price pattern is similar.
Discounting to move inventory was not Samsung’s theme over the last month, as on an overall basis prices on all 2022 Mini-LED/QD and QD only models increased by 1.8%, while 2021 models saw a 2.0% increase. 2022 8K models saw an unusual price increase of 7.0%, after a drop to their lowest price point last month, while last year’s 8K models saw little change. 2022 4K Mini/QD models saw a 3.0% price increase with 2021 models jumping 5.7% and this year’s QD only sets saw a 2.1% price decrease (the only category that saw a decrease), while last year’s QD only sets saw a small (0.2%) price increase. 8 of this year’s models were at their lowest price of the year while 2 were at their highest, while 16 of last year’s models were at their lowest price and 4 at their highest.
All in, we expect Samsung was more concerned with margins than moving inventory during the last few weeks, albeit contrary to expectations, and pushed prices back up to previous levels after a short July 4 discounting period. Figure 1 shows the four general categories across the line and how 2021 and 2022 pricing has changed, while Figure 2 shifts the 2022 models back in time to compare new model price changes to the same time period last year, which shows how 2022 model pricing has progressed relative to last year. We note that 2022 4K Mini-LED/QD pricing includes 4 models that did not exist in the 2021 line, making average set pricing higher this year although the price pattern is similar.
Samsung 8K/4K Mini-LED/QD Only Average TV Pricing - Source: SCMR LLC, Company Data
Samsung 8K/4K Mini-LED/QD & QD Only Average TV Pricing (Time Shifted) - Source: SCMR LLC, Company Data
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