Samsung and LG still dominate global TV market

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Samsung and LG still dominate global TV market

Published: 21 Nov. 2023, 16:27 Updated: 21 Nov. 2023, 16:54

JIN EUN-SOO
jin.eunsoo@joongang.co.kr

LG Electronics' OLED evo G3 [LG ELECTRONICS]

Samsung Electronics and LG Electronics held their leads in the global TV market, controlling a combined of nearly 50 percent of it in the third quarter this year.

Samsung Electronics grabbed 29.9 percent of the sector during the July-September period based on reported revenue during that time, according to market tracker Omida. That is an increase of 2.4 percentage points from the same period last year.

LG Electronics took the second spot with 16.7 percent of market, inching up by 0.4 percentage points.

Chinese players TCL and Hisense posted 10.6 percent and 9 percent, respectively.

LG Electronics was the top player in the organic light-emitting diode (OLED) TV segment in the third quarter, accounting for 55 percent of the premium TV market.

Both Samsung and LG continue focusing on large, high-end TVs with premium panels.

Samsung Electronics, for example, was able to grab 62 percent of the market for TVs over $2,500, per the company, which is a 16.2 percent increase from last year's 45.8 percent share.

Samsung's premium TV products leverage Neo QLED technology, which uses Mini LED backlights. QLED panels, by contrast, use conventional LEDs, which offer less precise contrast and more uneven brightness.

The company's QLED TV lineup, which included Neo QLED models, had sold an accumulated 5.84 million units as of third quarter this year, the company said.

LG Electronics plans to focus on the premium OLED TV market.

LG Electronics controlled 60 percent of the OLED TVs bigger than 75 inches during the first three quarters of this year, the company said.

The company especially wants to capitalize on the growing demand for premium TVs in North America and Europe. It recently released the Signature OLED M, which has a 97-inch, 120Hz 4K screen and receives all of its audio and video transmissions from an external processing box.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]