"OLED Persistence Paid Off"… LG Display Regains World No. 1 Position

Last Year's Q4 Market Share at 23.8%

[Asia Economy Reporter Jin-ho Kim] LG Display has reclaimed the world's number one market share in the TV display market for the fourth quarter of last year, led by organic light-emitting diode (OLED) technology.

According to market research firm Omdia on the 21st, LG Display's market share in TV displays (based on sales) for the fourth quarter of last year was 23.8%. This surpassed Chinese display manufacturer BOE (20.6%), regaining the top position after one year.

Omdia analyzed that the increase in sales was due to a surge in OLED product sales, especially in high-end TVs. In the fourth quarter of last year, LG Display's OLED TV panel shipments reached 2.3 million units, surpassing 2 million units per quarter for the first time. During the same period, OLED TV panel sales revenue also rose 28% year-on-year to $1.45 billion (approximately 1.8 trillion KRW).

The annual OLED TV panel shipments for last year were recorded at 7.4 million units, a 65% increase compared to the previous year. Omdia forecasts that LG Display will maintain the number one position this year with a 23.9% market share in TV display sales. LG Display's annual OLED TV shipments are expected to reach 10.01 million units.

OLED TVs have recently been growing rapidly, especially in the premium TV segment. According to Omdia's analysis, the share of OLED TVs in the premium TV market priced above $1,500 (based on sales) expanded from 26% in 2019 to 41% in the fourth quarter of 2021, and is expected to increase further to 42.1% this year.

LG Display plans to lead the "OLED mainstreaming" strategy starting this year by introducing the next-generation TV panel "OLED.EX," which offers 30% higher screen brightness compared to existing OLED panels. Specifically, LG Display will expand its full lineup by adding the smallest 42-inch and the largest 97-inch OLED TV panels, covering medium and extra-large sizes.

Meanwhile, global TV manufacturers that had previously avoided OLED are now rushing to produce OLED TVs. Until 2013, LG Electronics was the only player, but in recent years, major TV companies such as Japan's Sony and Panasonic, Europe's Bang & Olufsen, Philips, and Grundig have been entering the market one after another.