LG Electronics Ranks No.1 in OLED TV Shipments in Q1 with 52% Share

Market Research Firm Omdia Announces
OLED Market Share Nears 60% for 80-Inch and Larger Displays

LG Electronics solidified its leadership position in the global OLED TV market in the first quarter by recording a shipment share of approximately 52%.

LG SIGNATURE OLED M.
Photo by LG Electronics

According to market research firm Omdia on the 21st, LG OLED TV shipments in the first quarter reached about 627,000 units, accounting for a shipment share of approximately 52%.

LG Electronics stated, "With a diverse range of form factors including transparent, wireless, and bendable, and the industry's largest lineup ranging from 40-inch to 90-inch models, we have made a smooth start toward achieving the global OLED TV market No. 1 position for the 12th consecutive year."

In the first quarter, alongside the trend of "the bigger the TV, the better" (Geogeo-ikseon, 巨巨益善), the shipment share of large-sized OLED TVs over 70 inches within the overall OLED TV market rose by 4.6 percentage points compared to the same period last year, reaching 14.1%, the highest ever for a first quarter.

LG Electronics recorded about a 53% shipment share in the large-sized OLED TV market over 70 inches in the first quarter. In the ultra-large market over 80 inches, LG led with the world's largest 97-inch OLED TV, achieving a shipment share of 58.4%.

The global TV market shipment volume in the first quarter was 46,421,500 units, down about 1% from the same period last year. This is the lowest first-quarter figure since 2009. The global OLED TV shipment volume was estimated at around 1.21 million units.

In response to the contraction in global TV market demand, LG Electronics is focusing its market strategy on premium and ultra-large TVs while making efforts to normalize distribution inventory to secure profitability. OLED TVs, the top-tier lineup, accounted for about 28% of LG Electronics' TV sales in the first quarter.

This year, LG Electronics plans to actively target demand for ultra-large premium TVs through its AI-powered picture and sound chip "Alpha AI Processor," webOS-based customized customer experiences, and expansion of the wireless OLED lineup.

Including OLED and LCD, LG Electronics' TV shipments in the first quarter totaled 5,411,000 units. Its market share within the overall TV market was 16.6% based on value.

Meanwhile, Omdia forecasted that the TV market, which has been stagnant for the past three years, will successfully rebound from the second quarter of this year, with total TV shipments expected to rise about 2% year-on-year to 204,939,000 units.

Premium TVs are also expected to lead the market rebound, with OLED TV shipments projected to reach about 6.3 million units this year, showing growth compared to the previous year.