LG's Flagship OLED TV Aims to Surpass 2 Million Units in Quarterly Shipments for the First Time

1.125 Million Units in Q1 to 2.11 Million Units Expected in Q4
LG Leads with 60% Market Share... Anticipating the 'First Year of OLED Expansion'

LG Electronics' rollable TV, LG Signature OLED R
Photo by Kim Hyunmin

[Asia Economy Reporter Kim Heung-soon] LG Electronics' flagship organic light-emitting diode (OLED) TVs are expected to surpass 2 million units shipped per quarter globally for the first time this year. LG Electronics has designated this year as the 'first year of OLED expansion' and plans to expand market demand by introducing a diverse lineup ranging from premium to mass-market products both domestically and internationally.

According to market research firm Omdia on the 2nd, the global OLED TV market's quarterly shipments are expected to grow nearly twofold from 1.125 million units in Q1 to 2.11 million units in Q4, surpassing 2 million units within the year. This marks a doubling in shipments just one year after exceeding 1 million units per quarter for the first time in Q4 last year.

LG Electronics leads the OLED TV market with a global market share of about 60%, competing against around 20 manufacturers worldwide. This year, the company plans to broaden consumer choices by sequentially launching 18 models across 6 lineups, ranging from premium products priced over 100 million KRW per unit to items considering affordability and performance for the mass market. This is an increase of 6 detailed models compared to last year.

On the previous day, LG began selling its rollable TV (LG Signature OLED R), which features a screen that rolls up and unfolds, in 15 countries including the United States, the United Kingdom, Russia, Germany, and France through its global website. Known as the R series, this product comes in a 65-inch size with a shipment price of 100 million KRW per unit. It was first introduced domestically in October last year and is now being actively marketed overseas this year.

An LG Electronics official stated, "We expect that the reflective effect of this premium product, which embodies image quality and technological prowess, will increase interest and demand for other OLED TV models." The A series, which is priced lower as an entry-level model, is also scheduled for sequential release in the domestic market as early as Q2. Additionally, the G series featuring a gallery design that adheres closely to the wall, the entry-level B series, the C series which adds the largest 83-inch 4K resolution OLED TV model, and the Z series, the world's first 8K resolution OLED TV, are also in the pipeline.

While the global TV market still has a large proportion of liquid crystal display (LCD) products, China is effectively monopolizing the related panel market and strengthening its dominance by raising prices and reducing shipments. OLED TVs are expanding their presence by leveraging superior image quality and price competitiveness in response. Omdia forecasts that global OLED TV shipments will increase by nearly 60% to 5.8 million units this year, whereas LCD TV shipments are expected to decline by 2% to 217.29 million units compared to the previous year.