LG Electronics says it has now shipped more than 10 million units of its high-end OLED televisions. The overall enthusiasm for OLED screens is now achieving sales at a far faster rate.
Premium grade OLEDs have been available since 2013, but it took the South Korean electronics giant seven years to reach the 5 million overall sales milestone.
During Q3, global OLED TV shipments came in at 1.53 million units, and the figure is expected to pass 2 million units in the fourth quarter when demand for TV generally surges. By year-end, the number is projected to reach 6.5 million.
Analysts at Omdia say that LG’s television business enjoyed strong growth during the summer months (July-September) and helped by the Tokyo Olympics. Omdia says that sales rose by a significant 80 per cent y-o-y.
For the first nine months of this year, a total of 2.63 million units of LG OLED TVs were shipped, double the tally from a year ago and already surpassing last year’s total shipments.
These premium quality products also sell at premium prices. For example, the average selling price of LG’s OLED TV was $1,863.5 in the third quarter, about three times the $643.50 for LCD TVs sold globally.
Omdia adds that the global TV market peaked out during Q3 shipping an overall 50.3 million units, down by more than 20 percent from 62.9 million units a year earlier.