Half of the world’s TV market Korean products are’take away’… One out of two is Samsung and LG

Input 2021.02.24 13:49

By sales Samsung 31.9%, LG 16.5%
Total share of 48.4%, accounting for half of the world
Samsung QLED, LG OLED effect

Samsung Electronics (005930)Wow LG Electronics (066570)Last year, despite the aftermath of the novel coronavirus infection (Corona 19), it secured the leading position by raising the global TV market share. In terms of sales, the two companies account for 50% of the global TV market, accounting for half of the total TV market.

According to market research firm Omdia on the 24th, Samsung Electronics and LG Electronics recorded 31.9% and 16.5% market share in the global TV market last year based on sales. Samsung Electronics increased by 1 percentage point compared to the previous year and LG Electronics increased by 0.2 percentage points. These two companies are the only companies with a double-digit market share. The total market share of the two companies reached 48.4%.

The 31.9% market share recorded by Samsung Electronics is the highest ever. Samsung Electronics has maintained the No. 1 position in the global TV market for 15 consecutive years. Samsung Electronics picked quantum dot light-emitting diodes (QLEDs) and extra-large TVs as the background for achieving the first place with the highest market share ever. QLED TVs sold 800,000 units in 2017, followed by 2018 (2.6 million units) and 2019 (532 million units), and continued to increase to 7.79 million units last year. QLED accounts for 35.5% of Samsung Electronics’ TV sales. In the global high-end TV market of $2,500 or more, Samsung Electronics’ sales-based share is 45.4%. The market shares of the 75-type and above and the 80-type and above are also 47% and 50.8%, respectively.

Jong-hee Han, president of Samsung Electronics’ video display division, said, “The No. 1 achievement for 15 consecutive years is because consumers have trusted and loved Samsung TV. We will continue to reflect the lifestyles of more diverse users based on innovative technology. We will increase our eco-friendly products for a sustainable future.”

LG Electronics highly praised last year that OLED TV shipments exceeded 2 million units for the first time. Last year, LG OLED TV shipments increased 23.8% from the previous year to 2047,000 units. In the fourth quarter alone, 864,000 units were shipped, the highest in the quarter.

The average selling price (ASP) of LG OLED TVs is around $2,000, 4.6 times higher than the ASP ($428) of liquid crystal display (LCD) TVs sold in the global market. The increase in sales of LG OLED has a greater effect on profitability compared to other TV products. LG Electronics said that it is the result of being recognized by consumers for its overwhelming performance of a’self-luminous’ OLED TV that emits light and is the best TV in existence.

Omdia forecasts that the OLED TV market this year increased by more than 60% to 5.6 million units. All-red TV shipments sold by 19 companies including LG Electronics last year were 3652,000 units. An official from LG Electronics said, “This year, the OLED TV market is expected to be the first year of the popular OLED TV market, which grows up to twice as much as last year.”

LG Display, the world’s only supplier of large OLED panels for TV, has announced plans to expand its supply of OLED panels from 4.5 million units last year to a maximum of 8 million units this year.

On the other hand, global TV shipments on an annual basis last year amounted to 225.35 million units, a slight increase from the previous year. Even in the aftermath of Corona 19, 70,242,000 units were shipped in the fourth quarter alone due to the effect of the year-end peak season such as Black Friday. This is the largest quarterly shipment.