Rapid Growth in the Global Premium TV Market, Samsung and LG 'Dominate'

[Asia Economy Reporter Changhwan Lee] It has been revealed that the global premium TV market, in which Korean companies such as Samsung Electronics and LG Electronics hold nearly 80% market share, is experiencing significant growth. Although the growth may slow somewhat due to the impact of the novel coronavirus disease (COVID-19), it is expected to rebound in the second half of the year.

According to industry sources on the 30th, market research firm Display Supply Chain Consultants (DSCC) recently reported that global premium TV shipments in the first quarter of this year reached 2.4 million units, a 42% increase compared to the same period last year.

Premium TVs refer to high-definition, large-sized, and high-priced TVs equipped with next-generation displays such as Organic Light Emitting Diode (OLED), Quantum Dot (QD), and Dual Cell Liquid Crystal Display (LCD).

In the first quarter, shipments of 75-inch large LCD TVs surged 83% compared to the same period last year, and 77-inch OLED TV shipments increased by 313%. In the first quarter global premium TV market (by sales), Samsung Electronics held a 54% market share and LG Electronics held 24%, highlighting the strong presence of Korean companies.

DSCC forecasted that in the second quarter, premium TV shipments would grow by only 11% year-on-year due to the impact of COVID-19.

However, from the second half of the year, the market is expected to recover again, with shipments in the fourth quarter projected to increase by 27% compared to the same period last year. An average annual growth rate of 24% is anticipated from 2019 to 2025.

This content was produced with the assistance of AI translation services.