Omdia Reports Samsung Leads Q3 TV Shipments and Market Share
LG Holds Second Place, Followed by China’s TCL and Hisense
Strong Presence in Premium Segment; Maintains Top Market Share
LG Tops OLED TV Shipments and Revenue
On Track for 1
Samsung Electronics maintained its top position in the global TV market in the third quarter of this year, moving closer to securing the number one spot for the 20th consecutive year. LG Electronics retained its leadership in the premium organic light-emitting diode (OLED) TV market.
According to market research firm Omdia on November 30, Samsung Electronics held the number one spot in both shipment volume and revenue share in the TV market for the third quarter of this year.
Samsung Electronics' revenue share stood at 29.0%, up slightly from 28.6% in the same period last year. LG Electronics' share dropped from 16.5% to 15.2%, but the company maintained its second-place position. Chinese companies TCL (13.0%) and Hisense (10.9%) increased their shares and followed closely behind.
Although global TV demand declined somewhat, Samsung Electronics and LG Electronics maintained their strong presence in the premium market, holding their industry-leading positions. Samsung Electronics recorded a 53.1% revenue share in the premium segment priced above $2,500. In the ultra-large TV market of 75 inches and above, the company also maintained the top spot with a 29.1% share.
LG Electronics continued its strong performance toward holding the number one OLED TV market share for the 13th consecutive year, leading both in shipment volume (49.7%) and revenue (45.4%) in the highly profitable OLED segment. Samsung's OLED revenue share reached 34.9%. In the North American market, Samsung achieved the top spot with a 42.4% revenue share.
According to a survey by market research firm Circana based on sales volume, LG Electronics maintained its number one position in the North American market with a 50.7% share. However, in terms of total shipments, the combined share of TCL, Hisense, and Xiaomi reached 31.8%, surpassing the combined share of Samsung Electronics and LG Electronics at 28.5%, highlighting the remarkable growth of Chinese companies. Although LG Electronics ranked second in revenue share, it fell to fourth place in shipment share with 10.6%, behind TCL (14.3%) and Hisense (12.4%). Xiaomi, another Chinese company, ranked fifth with a 5.1% share.
In reality, both Samsung Electronics and LG Electronics posted weak results in their TV businesses in the third quarter of this year due to aggressive low-price competition from Chinese companies and external uncertainties. Samsung Electronics' Visual Display (VD) and Digital Appliances (DA) divisions recorded an operating loss of 100 billion won, while LG Electronics' Home Entertainment (HE) division, which oversees the TV business, posted an operating loss of 302.6 billion won. Both companies are seeking a turnaround by expanding premium product sales and diversifying demand, while also strengthening their mid- to low-end TV lineups.
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