LG Electronics Achieves Record High TV Market Share... 'OLED TV' Makes New History

OLED TV Growth Reaches 18.5% Market Share
LG OLED TV Shipments Surpass 4 Million Units... Leading the Premium Market

OLED TV advertisement displayed on the electronic billboard in Times Square, USA (Photo by LG Electronics)

[Asia Economy Reporter Lee Hyeyoung] LG Electronics recorded its highest-ever market share in the global TV market last year. The annual shipment volume of LG’s OLED (Organic Light Emitting Diode) TVs, known as a technological flagship, surpassed 4 million units, leading the global market.

According to market research firm Omdia on the 20th, LG OLED TV shipments reached 4,048,000 units last year. This figure is about double that of 2020 (2,048,000 units). LG Electronics shipped 1,413,000 OLED TVs in the fourth quarter alone, setting a record for the highest quarterly shipment volume ever.

Last year, the total shipment volume of LG TVs, including OLED and LCD, was 27,332,000 units. Although peak-out (decline after demand peak) became pronounced in the second half of the year, LG Electronics increased both shipment volume and sales compared to the previous year, thanks to the growth of OLED TVs.

LG Electronics’ TV market share (by value) also reached a record high of 18.5%. The company explained that this achievement is even more meaningful as it was attained through expanding sales of top-tier premium products rather than mid-to-low priced products.

The average selling price (ASP) of LG OLED TVs sold worldwide last year was $1,861.7 (approximately 2.22 million KRW). This is more than three times the ASP of LCD TVs, which was $507.7 (approximately 600,000 KRW).

The total OLED TV market, led by LG Electronics, recorded shipments of 6,525,000 units last year, growing about 80% compared to the previous year. Among these, LG’s OLED TV market share (by shipment volume) was 62%, solidifying its position as the leader in the OLED TV market entering its 10th year.

OLED TVs are expected to continue their rapid growth this year. Omdia forecasts that OLED TV shipments will reach a total of 8 million units this year. The share of OLED in the overall TV market is expected to exceed 12.7% by value.

In particular, in the premium market priced above $1,500 (approximately 1.79 million KRW), the share of OLED TVs is expected to rise to 42.1%, surpassing the shipment volume of QD (Quantum Dot)-LCD TVs.

With the number of OLED TV brands increasing to 20 as of the end of last year, LG Electronics anticipates that the expansion of the premium market will accelerate further.

Meanwhile, global TV shipments last year totaled approximately 213.53 million units, down by 11.932 million units compared to the previous year, marking the lowest level since 2010.

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