Korean Companies’ TVs

Korean Companies’ TVs Retained Their Global Leading Position

Samsung maintains its top spot in the global TV market in the third quarter.
LG holds 50% of the OLED TV market.

Samsung Electronics maintained its top spot in the global TV market in the third quarter of this year. LG Electronics also maintained its top spot in the premium OLED TV market. However, Chinese TV manufacturers, driven by price competitiveness, are rapidly catching up and this raises concerns among Korean companies.

According to market research firm Omdia, Samsung Electronics maintained its top spot in the TV market in the third quarter of this year, in both sales and shipments. Its sales share rose to 29%, up from 28.6% in the same period last year. Although LG Electronics’ sales share declined from 16.5% to 15.2%, it still maintained its second place. TCL ranked third (13.0%), and Hisense fourth (10.9%).
This is because Samsung Electronics and LG Electronics maintain high market share in the premium TV market.
Samsung Electronics recorded a 53.1% market share in the market for premium TVs priced at US$ 2,500 or more. It also maintained its top spot in the market for ultra-large TVs, 75 inches and larger, with a 29.1% share. LG Electronics maintained its top spot in the relatively lucrative OLED TV market, both in shipments (49.7%) and sales (45.4%). Samsung’s OLED TVs recorded a 34.9 market share. If the current sales trends of both companies continue, Samsung Electronics will hold the top rank in the global TV market for over 20 years this year, while LG Electronics will hold the top rank in the OLED TV market for 13 consecutive years.
However, based on shipments in the third quarter of this year, Chinese companies have already caught up with Korean companies. The combined market share of Chinese companies in shipments is 31.8%, surpassing the Korean companies’ share of 28.5%.
Chinese companies’ rapid rise in market share is largely because the overall TV market has shrunk. This is because lower-priced products are selling better under the circumstances with decreasing demand. According to market research firm TrendForce, global TV shipments in the third quarter of this year totaled 49.75 million units, a 4.9% decrease compared to the last year. This is the first time that shipments in the third quarter have fallen below 50 million units.

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