The share of 8K TVs in the global TV market is expected to remain below 1 percent this year, according to a latest forecast from market researcher WitsView.
Global TV manufacturers presented 8K TVs during last months's CES 2019. Nevertheless, 8K TVs are still expected to hold a small share in the TV market because 8K content and transmission technology have not yet matured. Moreover, 4K TV panels are selling at nearly half the price of 8K panels.
WitsView predicted in a recently released report that 8K TVs would account for 0.2 percent of all TV sales this year. Last year, they posted a 0.04 percent market share.
8K TVs are considered the next cash cow for the TV and display industries. Sharp and Samsung Electronics have presented models, followed by Chinese TV makers such as TCL, Haier, Hisense, and Konka.
However, the TV industry is not ready to support 8K display technology. 8K TVs require filming equipment that can produce high-quality content and a high-speed telecommunication network, which are still not available.
At CES 2019, the TV industry launched a nonprofit 8K TV group at CES 2019 to expand an 8K TV ecosystem. Led by Samsung, the 8K Association lists members including Panasonic, TCL, Hisense and AUO. Samsung is now encouraging its competitors such as Sharp and LG Electronics to join the effort.
Sharp launched the world's first 8K TV in 2017 and the world's first 8K TV with a built-in tuner at the end of last year. It also took the wraps off an 8K TV model compatible with 5G mobile telecommunication at CES 2019.
LG Electronics's participation in the 8K Association is expected to be delayed as the company has not unveiled its 8K TV yet.