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OLED TVs In Big Demand As LG Output Soars

As the OLED battle heats up in Australia with European Loewe and Metz OLED TV’s, now being sold at The Good Guys, it’s no surprise that LG has doubled sales of their OLED display panels.

Brands such as Sony and shortly Samsung will be using LG OLED panels in 2022 with new research revealing that LG Display has manufactured more than four million units of premium OLED TVs last year, double the volume from a year earlier.

LG Display is one of the few Companies that can produce OLED panels.

The South Korean brand who is in a head on fight with Samsung sold 4.04 million OLED TVs last year, with record quarterly sales of more than 1.41 million units in the fourth quarter, market researcher Omdia said.

Last year, the global OLED TV sector grew a whopping 80 percent on-year to hit sales of more than 6.5 million units.

LG led this market with a market share of 62 percent, the market is tipped to grow to eight million units this year.

OLED, or organic light-emitting diode, is highlighted by self-illuminating pixels that do not require a separate light source, allowing manufacturers to produce lightweight, thin and flexible display products.

The average selling price (ASP) of OLED TVs was $1,861.70, more than triple an LCD TV’s ASP of $507.70.

The OLED TV category is forecast to continue to grow this year. At the premium end of the markket OLED accounts for 42 percent of this market, 20 global TV manufacturers are selling OLED TVs.

The global TV market in 2021 was 213 million units the lowest since 2010.

Of the total, LG shipped 28.3 million units, taking up 18.5 percent of the market, Samsung Electronics led the market with a 29.5 percent market share.

To attract new customers and retain existing users, LG said it has stepped up its efforts to increase built-in applications on its smart TVs, as more people have begun to use TVs as a channel to browse and consume entertainment, health and education content, among many others.

Tony Brown the LG Manager responsible for LG TV’s in Australia has not returned our calls.

The company said the number of its smart TV applications surpassed 2,000, up more than 30 percent from the end of 2019, with education programs rising the fastest.

Among LG’s total TV shipments last year, smart TVs took up 95 percent. Globally, smart TVs accounted for 88.6 percent compared with 79.4 percent in 2019, according to Omdia.

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