In the first three quarters of 2024, the Russian television market moved more than 5.7 million units with a combined value around 165.3 billion rubles. This total marks a 5% dip compared with the same period a year earlier. Market researchers attribute the slowdown to higher final prices and growing costs for essential components, which trimmed household budgets and nudged buyers toward more affordable options. The assessment comes from an analytical report by GS Group and is shared with industry observers to provide a clearer picture of how the market is adjusting to shifting price dynamics and consumer expectations.
The average price of televisions climbed by 16% to approximately 29,000 rubles. Buyers are gravitating toward models that offer the same screen diagonal at a lower price, while demand for larger screens remains strong; around one in three televisions sold exceed 45 inches. This pattern reflects a deliberate preference for more value per inch, with shoppers weighing up-front cost against long-term utility, energy considerations, and the visual impact of bigger displays in living spaces.
The TV sector is undergoing change as Chinese manufacturers intensify competition for shares once dominated by LG and Samsung. Analysts forecast that South Korean brands could account for roughly 11% of the market in the near future. Among the leading Chinese players active in Russia are Haier, Xiaomi, Hisense, and TCL, each leveraging expansive product lines, aggressive pricing, and extensive local distribution to attract buyers who want dependable performance without paying premium brand prices. This shift widens the range of available options for customers across price bands and sizes.
Domestic brands command a significant presence, holding about 20% of the market. This share stems from the capability to assemble devices at factories in Russia and Belarus, enabling the rapid introduction of high-quality, affordable televisions that align with local consumer needs. Local production also helps streamline supply chains, reduce delays, and deliver devices that suit regional preferences without sacrificing reliability or feature sets.
Such devices remain inexpensive, and without that price advantage their major competitive edge over larger elite manufacturers would likely erode. In terms of value, the share of this segment is more than twice its volume, indicating that buyers often choose lower-cost models with adequate performance while still valuing durability and essential features. The landscape shows a clear preference for cost-effective selections that deliver practical benefits, especially as prices continue to respond to global supply dynamics. A nod to innovation underscores the market, with attempts to blend affordability with evolving display technology, rather than chasing premium names alone. Earlier, LG introduced a screen capable of bending and stretching, signaling ongoing exploration of flexible displays and new form factors that could reshape consumer expectations for future televisions.