Samsung Electronics Achieves Record High 33% Share in Global TV Market

Samsung TV Achieves Record High Market Share of 33.1% by Value in Q3 This Year

Samsung Electronics QLED TV

[Asia Economy Reporter Changhwan Lee] Samsung Electronics has achieved the highest-ever global TV market share on a quarterly basis, led by its flagship product, the QLED TV.

According to global market research firm Omdia on the 24th, the global TV market size in the third quarter was 62.87 million units and $28.153 billion, representing a 14.7% increase in volume and an 11.8% increase in value compared to the same period last year.

By company, Samsung Electronics, ranked first, recorded a global TV market share of 33.1% in value terms in the third quarter, marking the highest quarterly figure ever. The previous highest was 32.3% in the first quarter of this year.

LG Electronics ranked second with 16.6%, Sony third with 10.1%, and China’s Hisense fourth with 7.3%.

It is analyzed that the TV market showed growth as demand increased due to more time spent at home during the pandemic, and pent-up demand from postponed purchases in the first half of the year concentrated in the third quarter.

In terms of volume, Samsung Electronics also took first place with a 23.6% market share. LG Electronics, which had fallen to third place in the second quarter, regained second place with 11.6%. TCL followed with 10.9%, and Hisense recorded 9.0%.

Korean companies’ sales volume share in the third quarter was 35.2%, surpassing Chinese companies (33.8%) to take first place. The TV shipment volume of Korean companies is the highest ever for the third quarter.

Sales of large-sized TVs also increased. Samsung Electronics dominated the market with a 53.5% share in value terms in the 80-inch and above TV market, capturing more than half of the market. Sony ranked second with 21.5%, and LG recorded 14.1% in the 80-inch and above segment.

OLED TVs, led by LG Electronics, sold 930,000 units in the third quarter, a 39.8% increase compared to the same period last year. Of these, LG Electronics sold 500,000 units, and Sony sold 230,000 units.