Advanced Television

Samsung, LG dominate global TV market

February 22, 2022

By Chris Forrester

Despite the temptations of lower-cost Chinese and Turkish television manufacturing it seems the world prefers South Korean-built TVs.

Data from technology research specialist Omdia indicate that Samsung Electronics and LG Electronics have firmly held onto the Number 1 and 2 spots in terms of market share.

Omdia’s data says that Samsung Electronics posted a 29.5 per cent market share in terms of revenue and a 19.8 per cent share in terms of sales volume in 2021. Samsung sold 9.43 million quantum light emitting diode (QLED) TVs in 2021, achieving cumulative sales of 26 million units in five years. Samsung QLED TVs accounted for 44.5 per cent of the total revenue in the high-end premium TV segment, worth more than $2,500 per unit in 2021.

It is the 16th consecutive year that Samsung has held the Number 1 spot.

LG Electronics sold 27.332 million TVs, accounting for 18.5 per cent in terms of revenue and 12.8 per cent in terms of sales volume. Its OLED TV sales amounted to 6,525,000 units, accounting for 62 per cent of the entire OLED TV market. In 2021, the average unit price of LG OLED TVs was $1,861 (about 2.2 million won), more than three times the average LCD TV price of $507.70.

Meanwhile, global TV shipments fell by 1,932,000 units on year to 213.54 million units in 2021, the lowest figure since 2010.

The two Korean companies were followed by Japan’s Sony, which had a market share of 9.5 per cent in terms of revenues, TCL with 8 per cent and Hisense with 6.8 per cent.

Categories: Articles, Equipment, Equipment, Markets, Research, UHD

Tags: , , , , , , ,