Korean TV brands account for more than half of global sales in Q1
South Korean brands remain dominant in the global TV scene with Samsung Electronics behind more than 30% of global TV sales in the first quarter and LG Electronics setting a new record in OLED TV shipments in the same quarter.
According to Omdia, a global market tracker, total TVs sold worldwide in the first quarter were 49 million units, down 4.3% from a year ago, or in value at $25.67 billion, down 6.3%.
Samsung held a 32.9% share, up 5.2 percentage points from the previous quarter, while LG was second with 17.7%. Korean names accounted for more than half of the market, well ahead of rivals including Chinese TCL (8.0%) and Hisense (7.6%), and Japanese Sony (7.6%). In terms of number of units sold, Samsung leads the global market with 22.5%, followed by LG with 12.6%, TCL with 10.9%, Sony with 8.7% and Hisense with 6. .1%.
Samsung has remained at the top for 16 consecutive years, buoyed by upbeat sales of Neo QLED 8K and other large, high-end models. QLED units sold globally stood at 3.3 million units in the first quarter, up 23% from a year ago. Of the total, Samsung took 76%, selling 2.52 million units. Its ratio has increased by 25% compared to a year ago.
Samsung’s QLED sales in cumulative terms have posted 28 million units in the five years since its launch in 2017. If the upward trend continues in the second quarter, its sales will likely exceed 30 million units. Samsung’s Neo QLED took 40% of QLED sales in the first quarter. The Samsung brand accounted for 40.7% of 75-inch TVs and 48.1% of 80-inch TVs. It also took about half of the market for high-end TVs worth over $2,500.
LG hit a new quarterly shipment record by rolling out 924,600 units of premium OLED models, up 17% from a year ago. The average selling price (ASP) of OLED TVs was $1,615.6, three times higher than the $485.1 of LED TVs during the same period. LG took 62.2% of the OLED TV market in terms of shipments, boasting of its strength in OLED models since stepping into the market a decade ago. The international OLED TV market will continue to grow this year. Omdia predicted that 8 million OLED units would be shipped this year.
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