LG Display tops global market for UHD panels
LG Display became the first Korean company to take the No. 1 spot in the global ultra-high definition (UHD) television panel market, beating a Taiwanese company.
According to a monthly report released Thursday by DisplaySearch, a U.S.-based market research and consulting firm, LG Display shipped a total of 578,000 UHD TV panels in October, taking 28.1 percent of the market share, beating Taiwan’s Innolux, which had 24 percent.
Samsung Display ranked third with 20.2 percent of the global market share after selling 415,000 UHD TV panels last month. Global shipments of UHD TV panels in October totaled about 2.05 million, according to the report.
It was the first time a Korean company has surpassed Taiwanese and Chinese companies to top the UHD TV panel market. Samsung Electronics and LG Electronics entered the UHD market in 2012 with their 80-inch TVs.
But while Korean TV manufacturers have focused on producing large-size and premium products, Chinese and Taiwanese companies have been expanding in the UHD market with affordable TVs, which has helped their growth. Previous data from DisplaySearch shows that Innolux took 63.1 percent of the market in January.
LG Display, an affiliate of Korea’s fourth-largest chaebol LG Group, said that its unique M+ technology, which enhances resolution and uses power more efficiently, has attracted customers to its panels.
The company also said that its customer-friendly marketing is helping its sales in China, which accounts for about 60 percent of the UHD TV market. LG Display reportedly formed a special team this year to take the No. 1 position in the UHD display market.
LG Display has also been the top global manufacturer of liquid crystal displays for 20 consecutive quarters, according to an earlier DisplaySearch report.