Home Video in Russia

2021 DEVELOPMENTS

With COVID-19 restrictions driving a surge in demand for TVs during 2020, 2021 will bring a post-pandemic hangover

Home video dominates retail current value sales of in-home consumer electronics in Russia, with LCD TVs accounting for the bulk of this. In spite of the economic shock of the pandemic, retail current value sales of home video accelerated sharply during 2020, as the fact that most consumers were spending much more time at home due to the pandemic led a significant number of them to upgrade their televisions – with many bringing forward purchases they would otherwise have made in 2021.

As OLED TVs become more affordable, they are gaining ground on LED

While LED TVs will continue to dominate retail current value sales of televisions in 2021, OLED TVs will gain significant ground on them. While OLED TVs are generally regarded to provide superior picture quality, they are also significantly more expensive, but this price differential is narrowing.

Largely as a result of its competitive pricing and strong marketing, Chinese player Haier emerges as the third-largest player in LCD TVs

Samsung Electronics Rus OOO and LG Electronics Rus OOO will account for almost half of retail current value sales of LCD TVs in Russia between them during 2021. Chinese player Haier Rus TK OOO ranked third in 2020 and will continue to increase its retail value share during 2021.

PROSPECTS AND OPPORTUNITIES

OLED will continue to outperform LED in televisions

The rate of growth in retail current value sales of home video will accelerate sharply during 2022 and remain vigorous for the rest of the forecast period. OLED TVs will continue to significantly outperform LED TVs in terms of their respective rates of retail current value sales growth during the forecast period.

Competitive pressure will intensify, particularly in LED TVs

In LCD TVs, leaders Samsung and LG are likely to come under increased pressure from cheaper brands, most notably Haier, during the forecast period. Russians will steadily become more familiar with the latter brand (the company also manufactures a wide range of home appliances), and its distribution is set to widen.

New formats could challenge OLED

QLED and MicroLED are promising technologies due to the growing interest in enjoying higher-quality pictures at home (as illustrated by strong growth in demand for OLED TVs towards the end of the review period), especially as their pricing declines and credit options become more accessible. The HDR (high dynamic range) format, which gives the picture more contrast, is also likely to continue to grow in popularity.