LG, OLED TV Market Leader for 10 Consecutive Years...Cumulative Shipments Surpass 15 Million Units

Approaching 60% Market Share Based on Shipment Volume

[Asia Economy Reporter Park Sun-mi] LG Electronics has ranked first in the global OLED TV market for 10 consecutive years.

According to market research firm Omdia on the 21st, LG OLED TV shipments reached 3.824 million units last year, maintaining a solid number one position in the global OLED TV market. The total cumulative shipments since 2013 surpassed 15 million units as of last year.

LG Electronics' market share in the OLED TV segment approached 60% based on volume. Continuing 10 years of innovation in OLED TVs this year, LG Electronics is solidifying its leadership position in the next-generation premium TV market as a distinguished OLED TV brand.

In the ultra-large market of 70 inches and above, LG OLED TV shipments grew by more than 12% compared to the previous year. LG Electronics is providing an ultra-large viewing experience at home, led by the world's largest 97-inch OLED evo launched last year. Shipments of LG OLED TVs in the 40-inch range also increased by about 33% compared to the previous year. In 2020, LG Electronics introduced the world's first 48-inch OLED TV, creating a new market for gaming TVs amid the trend favoring larger TVs. Last year, the company launched the world's smallest 42-inch OLED evo, receiving high acclaim from customers seeking ultra-high-definition viewing experiences in the mid-sized TV market.

LG Electronics maintained second place in the overall TV market with a 16.7% share based on revenue. Among LG Electronics' TV sales last year, the premium OLED TV lineup accounted for more than 35%. Last year, LG Electronics' total TV shipments, including OLED and LCD, reached 23.7573 million units.

Meanwhile, global TV shipments last year totaled 203.2567 million units, down about 5% from the previous year. Worldwide LCD TV shipments also decreased by about 5%, falling below 200 million units for the first time since 2010. Meanwhile, global OLED TV shipments, including LG Electronics, remained at around 6.5 million units.

The OLED TV market size is expected to grow this year. Omdia forecasts global OLED TV shipments to increase by about 14% year-on-year to a total of 7.41 million units this year. In particular, in the premium TV market priced above $1,500 (approximately 1.9 million KRW), OLED TV shipments are expected to account for nearly half, at 49.8%. The share of OLED TVs in the overall TV market is projected to reach about 13% based on revenue.