China’s Hisense and Leica Camera to Develop New Laser TV Technology
Chinese home appliance giant Hisense Group and German camera maker Leica Camera announced on August 3 that they had reached a technical cooperation agreement to jointly develop new laser TV technology and accelerate its application and deployment in the global market.
This is the first time that Leica has publicly expressed its in-depth layout of this industry and reached a two-way technical cooperation with partner.
According to the agreement, based on Hisense’s years of leading technology in the field of laser displays and Leica’s R&D expertise in the field of high-quality optical lenses, the two parties will work together to jointly accelerate the application and popularization of ultra-short wave laser TVs in the global market.
Leica is an international company with an optical engineering team that has accumulated over a century’s worth of technology and holds the world’s leading imaging technologies such as color adjustment. First introduced in 1913, Leica’s camera was the world’s first 35mm camera. Meanwhile, Hisense Group is the founder of the laser TV. According to Omdia’s data, Hisense had a 49% market share of its laser TVs in the global shipment in 2021.
According to the plan, the laser TV Leica Cine 1, the first major technological achievement after the deal between the two parties, will be put on display at the IFA exhibition in Germany in September this year.
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All View Cloud’s data shows that the CAGR of laser TVs from 2015 to 2020 was as high as 213.8%. According to Global Info Research (GIR), the global laser TV’s revenue in 2021 was about $1,296 million, which is expected to reach $10,330 million in 2028, with a compound annual CAGR of 34.5% from 2022 to 2028.
Globally, the laser TV market is mainly concentrated in China, the United States, Europe, South Africa and other regions, among which China is the most largest producer and consumer. According to the report released by RUNTO, the shipment volume of laser TVs in the Chinese mainland reached 280,000 units in 2021, a year-on-year increase of 31.9%, with sales of 4.7 billion yuan ($695.86 million), up 27.7% year-on-year.