"As Expected, the OLED Master"… LG Electronics Ranks No.1 in Global OLED TV Market for 11 Consecutive Years

Omdia, TV Market Research
OLED TV Shipment Share 53% Last Year

LG Electronics has secured the number one position in the global organic light-emitting diode (OLED) TV market for 11 consecutive years.

According to market research firm Omdia on the 19th, LG OLED TV shipments last year reached approximately 3 million units, accounting for about 53% of the market share based on shipment volume.

Along with the trend of "the bigger the TV, the better," demand for extra-large, premium TVs has steadily increased. Last year, the share of 75-inch and larger extra-large TVs in the premium TV markets of North America and Europe surpassed 20% in terms of value for the first time ever.

LG Electronics 2024 OLED Evo.
[Photo by LG Electronics]

The value share of 75-inch and larger extra-large TVs in the overall OLED TV market exceeded 25%. The shipment volume share of 75-inch and larger extra-large TVs also reached a record high of 13.3%. The shipment volume of 75-inch and larger extra-large OLED TVs has approached a compound annual growth rate (CAGR) of 70% over the past five years up to last year.

LG Electronics recorded a market share close to 60% in shipment volume in the 75-inch and larger extra-large OLED TV market last year. LG Electronics has been actively targeting the demand for extra-large and premium TVs by expanding the launch of wireless OLED TV series such as 97-inch, 83-inch, and 77-inch models equipped with the world's first 4K·120Hz wireless transmission solution in the North American and European markets.

This year, LG Electronics plans to aggressively target the demand for extra-large premium TVs by leading with a more powerful LG OLED TV based on ▲expanded wireless OLED lineup ▲a next-level evolved dedicated AI picture and sound processor ▲and a customized customer experience based on webOS.

LG Electronics is also increasing its influence in the wide color gamut (WCG) LCD TV market with its premium liquid crystal display (LCD) TVs, 'LG QNED TV' and 'LG NanoCell TV.' LG Electronics ranked second last year in the quantum dot LCD TV market with a 14.7% market share (value). This figure does not include LG NanoCell TVs, which use NanoCell materials among the wide color gamut technologies.

This year, LG Electronics plans to introduce the LG QNED Evo, which more precisely distinguishes the contrast levels in images, based on mini LED technology and the AI Alpha 8 processor, which is about 30% more powerful in AI performance compared to previous models. In particular, LG has established a comprehensive QNED TV full lineup (98, 86, 75, 65, 55, 50, and 43 inches) ranging from small to extra-large sizes, including the 98-inch QNED TV.

Meanwhile, LG Electronics' total TV shipments, including OLED and LCD, were recorded at 22,538,300 units last year, with a market share of 16.3% by value in the overall TV market, following first-place Samsung Electronics (30.1%).