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Samsung and LG Dominate Global TV Markets in Q1

Samsung Leads in Overall TV Sales, While LG Excels in OLED Segment
South Korea
s 005930.KO l 066570.KO Blue Chip 150 OM 60 Semicon 75 Tech 350 Mid and Small Cap 2000
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In the first quarter of 2024, Samsung Electronics and LG Electronics solidified their dominance in the global TV market, according to market research firm Omdia. Samsung captured a 29.3% revenue-based market share and an 18.7% quantity-based share, leading the global TV market. LG Electronics followed with a 16.6% revenue share, while China’s TCL secured second place in quantity with a 12.6% share.

Samsung excelled in the premium TV market segments over US$2,500 and US$1,500, with revenue shares of 53.2% and 55.2%, respectively. It also maintained its lead in the super-large TV market, achieving shares of 29.6% for 75 inches and above, and 34.4% for 80 inches and above. At CES 2024, Samsung highlighted its AI TV era, promoting its flagship Neo QLED and other premium models, helping it maintain the top spot for the 18th consecutive year. Samsung’s OLED TV sales, relaunched in 2022, reached 1.6 million units, securing a 27.0% revenue share in Q1.

LG Electronics dominated the OLED TV market, holding over 50% market share with 627,000 units shipped in Q1, accounting for about 52% of the market. LG led the super-large OLED TV market, especially with its 97-inch model, achieving a 58.4% share for 80 inches and above. Despite a 1% decline in global TV shipments to 46.4 million units—the lowest since 2009—LG focused on premium and large products to secure profitability. OLED TVs contributed about 28% to LG’s TV revenue.

Omdia projects a recovery in the TV market from Q2, with total shipments expected to rise by 2% to approximately 200.9 million units for the year. The premium TV segment, particularly OLED TVs, is forecasted to grow, reaching around 6.3 million units.

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