Shipment Volume Up 12.4% Year-on-Year
Global TV Market Shows Growth in Shipments
LG TV Shipments Reach 5.08 Million Units in Q1
LG Electronics recorded a market share of approximately 52% in the global organic light-emitting diode (OLED) TV market in the first quarter of this year, based on shipment volume.
According to market research firm Omdia on May 20, LG's OLED TV shipments in the first quarter of this year reached about 704,400 units, accounting for a 52.1% share of the OLED TV market. In particular, compared to the same period last year (shipments of about 626,700 units and a market share of 51.5%), shipments increased by 12.4% and market share rose by 0.6 percentage points.
LG Electronics plans to maintain its position as the world's No. 1 OLED TV manufacturer this year, following its achievement of the top spot for 12 consecutive years as of last year. The company also posted high market shares in the first quarter, with a 54.9% share in the OLED TV market for models 70 inches and above, and a 63.6% share for models 80 inches and above. The proportion of shipments for ultra-large TVs (70 inches and above) within the overall OLED TV market in the first quarter was 15.3%, up 1.2 percentage points from the same period last year (14.1%).
In the first quarter of this year, OLED TVs accounted for 44.8% of the premium (priced above $1,500) TV market by shipment volume, up 3.5 percentage points from the same period last year, approaching the halfway mark. LG Electronics expects the share of OLED TVs in the global premium market to surpass 50% in terms of shipments this year.
LG Electronics is targeting the premium TV market with its proprietary platform webOS, which leverages artificial intelligence (AI) to analyze user preferences and deliver a hyper-personalized experience, as well as with a new brightness enhancement technology that changes the algorithm and the stacking structure of organic compounds, resulting in screens more than three times brighter than standard OLED TVs (B5 models).
The company also plans to further strengthen its leadership in the global premium TV market through a 'dual track' strategy, featuring both LG OLED TVs and premium LCD TVs such as QNED (nano-based high color reproduction display) TVs.
In the first quarter, LG Electronics' total TV shipments?including both OLED and liquid crystal display (LCD) models?were approximately 5,085,600 units. The company's market share in the TV market stood at 15% based on revenue.
Global TV shipments in the first quarter reached about 47,483,200 units, a slight increase of approximately 2.4% compared to the same period last year, marking the first upward trend in four years. OLED TV shipments in the first quarter totaled about 1,351,300 units, up roughly 11% year-on-year, significantly outpacing overall market growth and showing an upward trend for the first time in three years.
Omdia estimates that total global TV shipments for this year will reach about 208,907,000 units, a slight increase from last year. Global OLED TV shipments are also expected to reach around 6.55 million units, representing about 7.8% growth compared to last year's annual total of 6.07 million units.
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