Samsung Still On Top In TV Market As They Grab 29% Of OLED TV’s Sold
The battle between South Korean TV giants Samsung and LG Electronics has seen Samsung come out on top in the last quarter despite falling sales in Australia and margin depression.
According to Omdia research, Samsung lifted their share of the global OLED TV market by 2.4% to a total share of 29.9% in the last quarter.
The tech giant also maintained their position in the number of units sold overall by holding onto 18.3% of total shipments during the period.
Samsung has held the No. 1 position in the global TV market since 2006.
While the global demand for TVs largely decreased year on year Samsung claims it dominates in the premium TV market with their Neo QLED TV and OLED TVs.
In the over A$3,300 market the company said it witnessed sales grow of 16.2% with a total market share of 62% in the third quarter this year.
Overall global TV sales fell 4.4% to 143 million units in the period, compared to the same time in 2022.
The Australian market is believed to be down over 6%.
LG Electronics came out on top in the global OLED market for 11 consecutive years, selling 2.03 million units between January to September.
This delivered a 55% of total OLED shipments, according to Omdia.
According to LG, the demand for ultra-large premium TVs is growing with demand for 75″ inch and larger TVs delivering 25% growth.
Today 1 out of every 4 OLED TVs sold is over 75″ inches.
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, OLED and LCD came in at 16.29 million units, accounting for a 16.4% share of the total TV market.
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 currently re4ducing their manufacturing output to below 60 percent in the first quarter of next year.” Omedia claimed.