Korean TV brands make up more than half of global sales Q1

[Source: Samsung Electronics Co.]

South Korean brands remain dominant on global TV scene with Samsung Electronics behind more than 30 percent global TV sales in the first quarter and LG Electronics making new record in OLED TV shipments in the same quarter.

According to Omdia, a global market tracker, the total of TVs sold around the world in the first quarter amounted to 49 million units, down 4.3 percent from a year ago, or in value at $25.67 billion, down 6.3 percent

Samsung commanded a share of 32.9 percent, up 5.2 percentage points from the previous quarter, while LG ranked second with 17.7 percent. The Korean names made up more than half of the market, way ahead of their rivals, including China’s TCL (8.0%) and Hisense (7.6%), and Japan’s Sony (7.6%). As to the number of units sold, Samsung topped the global market with 22.5 percent, followed by LG with 12.6 percent, TCL with 10.9 percent, Sony with 8.7 percent, and Hisense with 6.1 percent.

Samsung has stayed at the top for 16 straight years, backed by upbeat sales in Neo QLED 8K and other mega-size premium models. QLED units sold around the globe amounted to 3.3 million units in the first quarter, up 23 percent from a year ago. Of the total, Samsung took 76 percent, selling 2.52 million units. Its ratio was up 25 percent from a year ago.

Samsung’s QLED sales in cumulative terms posted 28 million units in five years since its launch in 2017. If the growing trend continues in the second quarter, its sales will likely exceed 30 million units. Samsung’s Neo QLED took 40 percent of its QLED sales in the first quarter. Samsung brand accounted for 40.7 percent of 75-inch TVs and 48.1 percent of 80-inch TVs. It also took around half of the market for premium TVs worth over $2,500.

[Source: LG Electronics Inc.]

LG recorded a new high in quarterly shipments as it rolled out 924,600 units of premium OLED models, up 17 percent from a year ago. OLED TV’s average selling price (ASP) amounted to $1,615.6, three times higher than LED TV’s $485.1 during the same period. LG took 62.2 percent of the OLED TV market in terms of shipments, boasting of its strength in OLED models since its advance into the market ten years ago. The international OLED TV market will grow further this year. Omdia predicted 8 million OLED units would be shipped this year.

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