LG Electronics Achieves Record High OLED TV Shipments in Q1

924,600 Units... 17% Increase Compared to the Same Period Last Year

LG OLED Evo Lifestyle.

[Asia Economy Reporter Jin-ho Kim] LG Electronics' top-tier premium lineup, 'LG OLED TV,' has set a new record for first-quarter shipments. Despite the global market demand contraction, it is evaluated to have solidified its position as the next-generation premium TV with overwhelming picture quality and design.

According to market research firm Omdia on the 24th, LG OLED TV shipments in the first quarter of this year reached 924,600 units. This figure is 17% higher compared to the same period last year, which recorded record-breaking growth, making it the highest first-quarter shipment volume ever.

The average selling price (ASP) of LG OLED TVs sold worldwide in the first quarter was $1,615.6 (approximately 2.04 million KRW). This is more than three times the ASP of LCD TVs sold during the same period, which was $485.1 (approximately 610,000 KRW).

Including both OLED and LCD, LG Electronics' total TV shipments reached 6,193,600 units. LG Electronics' TV market share in the first quarter was 17.7% based on revenue.

The overall OLED TV market recorded first-quarter shipments of 1,486,000 units, a 24.7% increase compared to the same period last year. This contrasts with the global LCD TV shipments, which decreased by 5% during the same period. LG Electronics held a 62.2% shipment-based market share in the entire OLED TV market.

OLED TVs are expected to continue rapid growth this year following last year. Omdia forecasts that OLED TV shipments will reach 8 million units this year. The number of brands selling OLED TVs has increased to 21. As OLED TVs become the mainstream in the premium market, the market expansion is expected to accelerate further.

Meanwhile, global TV shipments in the first quarter totaled 49,069,800 units, a decrease of 2,184,700 units compared to the same period last year. Korea's market share in the global TV market accounted for 50.6% based on revenue, holding the majority. The gap with China, which ranked second with a 25.9% share, was twice as large.