"Premium is the Trend"... QLED and OLED Shipments Set to Break Records This Year

[Asia Economy Reporter Suyeon Woo] As the trend of larger and more premium TVs spreads across the TV market, it is forecasted that QLED and OLED TV shipments will set new records this year. Market research firm TrendForce recently predicted that TV manufacturers will strengthen their large-size and premium strategies due to continuous price increases in TV panels and shortages of key semiconductor components.

According to TrendForce on the 4th, the annual shipment volume of QLED TVs this year is expected to exceed 10 million units, reaching 11.02 million units, a 22.4% increase compared to the previous year. OLED TV shipments are predicted to surge by 80% to 7.1 million units.

However, with the full-scale rollout of vaccinations this year and the end of remote work, pent-up demand caused by COVID-19 is expected to slow down, resulting in total TV shipments reaching around 220 million units, a modest 1.4% increase from the previous year. TrendForce anticipates that TV manufacturers will expand their premium strategies to offset rising raw material costs such as semiconductors and panels amid this trend.

2020~2021 QLED·OLED TV Shipment Forecast (Unit: Million Units) / Source=TrendForce

Samsung Electronics’ QLED shipments this year are expected to increase by 17% year-on-year to 9.1 million units. Recently, Samsung launched its new product, the 'Neo QLED,' and recorded the highest first-quarter sales ever. In particular, it has shown continuous growth in the ultra-large TV segment of 75 inches and above, as well as in the premium market priced over $2,500, raising expectations for QLED shipments to surpass 10 million units this year.

Meanwhile, LG Electronics, which promotes OLED TVs, is rapidly dominating the market by achieving over 100% quarterly shipment growth. TrendForce forecasts that total OLED TV shipments will increase by 80% year-on-year this year, setting a new record, with LG Electronics and Sony expected to hold about 80% of the market share. By market share, LG Electronics is anticipated to have over 50%, and Sony around 20%.

TrendForce stated, "As LG Display expands its 8.5-generation production line in Guangzhou, China, and builds additional production capacity this year, the cost gap between OLED panels and existing panels is narrowing, making it highly likely that TV brands will expand their OLED TV lineups."

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