Samsung Leads Global Market with 29.7% Share
LG Electronics Tops OLED... "Approaching 60% Market Share"
[Asia Economy Reporter Kim Pyeonghwa] Samsung Electronics and LG Electronics have dominated the global TV market. Samsung Electronics maintained its No. 1 position in the global TV market for 17 consecutive years last year. LG Electronics has held the No. 1 spot in the OLED market for 10 consecutive years.
Samsung Ranks No. 1 in Global TV Market: "Premium Strategy Paid Off"
On the 21st, market research firm Omdia announced that Samsung Electronics ranked first in the global TV market last year with a 29.7% share by value. The premium product strategy centered on Neo QLED proved effective. Samsung Electronics' premium TV market share is 48.6% by value. In the ultra-large market of 75 inches and above, it recorded a 36.1% share. The market share for ultra-large TVs of 80 inches and above is 42.9%.
In the premium TV market priced above $2,500, the overall QLED share, including Samsung, is 46.2%. Since 2019, it has maintained over 40%, becoming a key product in the premium TV segment. Samsung Electronics' QLED sales volume also reached 9.65 million units last year.
Samsung Electronics stated that innovative products such as 8K, Neo QLED, and Lifestyle TVs, as well as a 'customer experience-centered DNA' that continuously enhances user experience, were the reasons behind achieving the No. 1 position for 17 consecutive years. Kim Cheol-gi, Vice President of Samsung Electronics' Visual Display Business Division, said, “The result of being No. 1 in the world for 17 consecutive years is thanks to the love of consumers who trusted and chose Samsung TVs,” adding, “We will continue to introduce customer experience-centered innovations to realize the hyper-connected era.”
LG Electronics Leads OLED TV Market
LG Electronics ranked first in the global OLED TV market last year. LG Electronics' OLED TV market share approached 60%. Last year, OLED TV shipments reached 3,824,000 units. Since 2013, the total cumulative shipments have surpassed 15 million units.
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 launched the world's largest 97-inch OLED evo last year. Shipments of LG OLED TVs in the 40-inch range increased by about 33% year-on-year. LG Electronics also launched the world's smallest 42-inch OLED evo last year, gaining consumer response in the mid-sized TV market.
LG Electronics maintained second place in the overall TV market with a 16.7% share. 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 23,757,300 units.
Meanwhile, global TV shipments last year totaled 203,256,700 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, maintained a level of about 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. The share of OLED in the overall TV market is expected to reach about 13% by value.
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