In Mexico, the most important communication channel in the country is television; based on IFT (Instituto Federal de Telecomunicaciones) data, 98% of Mexican homes have an average of two televisions. Mexican consumers use television to primarily watch the news, soap operas, films, television programmes and sports.
OLED TVs entered Mexico over the review period, with the first major competitor being LG in 2014, followed by Sony in 2016. However, these televisions are considered to be very expensive and are therefore accessible to only a niche population of wealthier consumers.
A key driver of growth in home video, and especially televisions, are Mexico’s annual shopping events which include El Buen Fin (similar to Black Friday) and Ventas Nocturnas (Night Sale). During these events retailers extend their opening hours and offer big discounts on some items, while some also offer monthly payment plans with zero interest in order to encourage consumers to make purchases.
LG Electronics México SA de CV extended its lead in home video in 2019, with it introducing a range of new products. These included the company’s innovative new AI ThinQ range of televisions which feature Google Assistant built-in.
LG was not the only player to introduce innovative new televisions in 2018/2019, with Sony launching its Master Series A9G line of OLED TVs. This new line includes a range of trademark technology, such as Sony’s Acoustic Surface Audio + which enables the viewer to receive sound from different directions to create a more immersive experience.
In Mexico, streaming services are very popular with consumers increasingly using their home video devices to connect to both audio and video streaming services such as Netflix. Brands of televisions such as HiSense and Sharp are Roku allies, and they include the service’s app in their products.
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Discover the latest market trends and uncover sources of future market growth for the Home Video industry in Mexico with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Consumer Electronics market research database.