The Korea Herald


Samsung retains No. 1 spot in TV sales; LG tops OLED market

By Jo He-rim

Published : Nov. 21, 2023 - 15:50

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Samsung Electronics' QD OLED TV (Samsung Electronics) Samsung Electronics' QD OLED TV (Samsung Electronics)

Samsung Electronics topped the global TV market with a share of nearly 30 percent in total revenue in the July-September period, as runner-up LG Electronics took the lead in the global organic light emitting diodes TV market, data showed Tuesday.

According to data by Omdia, a market tracker, Samsung’s share in the total revenue in the third quarter was 29.9 percent, up by 2.4 percentage points on-year.

The tech giant also maintained the top rank in the number of units sold, accounting for 18.3 percent of total shipments during the period and cementing its position as the market’s No. 1 since 2006.

While the global demand for TVs largely decreased when compared to the previous year, Samsung said it kept up sales in premium products such as its Neo QLED TV and OLED TV in the price range of over $2,500. In the premium segment, the company said it witnessed its sales share grow by 16.2 percent to post 62 percent in the third quarter this year.

Global TV sales decreased by 4.4 percent to 143 million units in the period when compared to the same time in 2022, amid a slump in demand and the global economic slowdown.

LG Electronics' Wireless OLED TV (LG Electronics) LG Electronics' Wireless OLED TV (LG Electronics)

LG Electronics secured the top position in the global OLED market for 11 consecutive years, selling 2.03 million units accumulated from January to September. The number of units accounted for a 55 percent share in terms of shipments, according to Omdia.

According to LG, the demand for ultra-large premium TVs is seeing steady growth and the share of 75-inch and larger TVs exceeded 25 percent of the OLED market up until the third quarter. This means that 1 out of 4 OLED TVs sold has a screen of 75 inches or larger.

From January to September, LG said it held a dominant share of 60 percent in shipments of 75-inch or larger TV products in the OLED market.

In the same period, LG Electronics' total TV shipments, including those of both OLED and liquid crystal displays, amounted to 16.29 million units, accounting for a 16.4 percent share of the total TV market in terms of value.

LG launched a series of wireless OLED TVs in North America and Europe in August, targeting the demand for ultra-large and premium TVs there.

Omdia predicted that market uncertainties will remain in the TV sector next year, and that the ongoing slump in demand is likely to continue, citing that the rate of operation of LCD panel production plants remains at 70 percent as of November.

"Panel manufacturers are struggling to maintain the price of the LCD panels for TV," Omdia said.

"Chinese panel suppliers are seen considering (reducing) the factory operation rate to below 60 percent in the first quarter next year."