Samsung Leads TV Market Share with 30.2% in Q1-Q3... LG Holds 17%

Samsung, LG, and Others Hold 47.2% Share of Korean Market... Down 1.8%p

[Asia Economy Reporter Park Sun-mi] Despite the global TV demand slowdown, Samsung and LG secured the 1st and 2nd positions in TV market share, collectively capturing nearly half of the entire market. Their strong performance in the premium TV segment was particularly notable.

According to global market research firm Omdia on the 22nd, the cumulative global TV market size from Q1 to Q3 this year was $72.39 billion, down 12.7% from $82.93 billion in the same period last year. Sales volume also decreased by 4.4%, recording 143 million units cumulatively through Q3.

In a challenging environment due to the TV demand slowdown, Korean companies showed remarkable progress. Samsung Electronics recorded a 30.2% market share based on cumulative revenue through Q3 this year, maintaining the top position in the global TV market. This was similar to the 30.2% share during the same period last year.

LG Electronics recorded a cumulative market share of 17% from Q1 to Q3, down 1.8 percentage points from 18.8% in the same period last year. Amid continued TV demand contraction due to the global economic downturn, LG's market share decline is interpreted as a result of shipment adjustments to maintain appropriate market inventory levels.

Thus, the combined revenue-based market share of Korean companies such as Samsung and LG from Q1 to Q3 was 47.2%, down 1.8 percentage points from the same period last year. Although the overall share slightly decreased, the gap remains significant compared to China (28.2%) and Japan (13.5%).

Korean companies are strengthening their premium and large-sized product lines to navigate the difficult market. Samsung Electronics led the premium market segment priced above $2,500 with Neo QLED and Lifestyle TVs, achieving a cumulative revenue-based market share of 51.1% through Q3, accounting for more than half of the total market.

In the large-sized market of 75 inches and above, Samsung recorded a 37.5% market share, while LG held 16.2%, resulting in domestic companies capturing 53.7% of the market, more than half.

Samsung is particularly focusing on its QLED product line. The QLED segment, which Samsung emphasizes, sold 9.14 million units cumulatively through Q3 this year, an 8% increase compared to 8.46 million units in the same period last year. Among these, Samsung sold 6.72 million units, accounting for over 70% of the total market.

LG Electronics' premium TV flagship, the LG OLED TV, has surpassed a total cumulative shipment of 14 million units from its initial release in 2013 through Q3 this year. It is expected to exceed 15 million units within the year and likely secure the number one position in the OLED TV market for the tenth consecutive year. LG's share of OLED TVs sold worldwide approaches 60% by volume.

The proportion of OLED TVs in LG Electronics' TV sales, representing the top-tier lineup, increased by 0.9 percentage points year-on-year to 33.7%. An LG Electronics official stated, "Despite the TV market downturn, LG OLED TV is solidifying its dominance in the premium market by emphasizing its overwhelming picture quality and design value to customers."

Both Samsung and LG plan to focus on premium and large-sized product sales in Q4 as well. Samsung Electronics announced, "In Q4, we will strengthen premium product sales centered on Neo QLED and Lifestyle TVs to achieve 17 consecutive years of market leadership."

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