LG Electronics "Leading 10 Years of Innovation, OLED TV Market Share 60% No.1"

Omdia Survey... 58.8% Market Share by Shipment Volume
Industry's First Shipment Volume Surpasses 15 Million Units at Year-End
Over 75% Market Share for 70-inch and Larger Ultra-Large OLED TVs

LG Electronics announced on the 23rd that it has maintained its No. 1 market share in the OLED TV market. Since its launch in 2013, it has continued innovation for 10 years, solidifying its position as the leader in the next-generation premium TV market.

According to market research firm Omdia, LG Electronics stated that its OLED TV market share in the first quarter reached 58.8% based on shipment volume, maintaining the top position worldwide.

The market share of ultra-large OLED TVs over 70 inches recorded 75.3% based on first-quarter shipments. The company explained that this is significant as the trend of "the bigger the TV, the better" continues. LG plans to release the 'LG Signature OLED M,' the world's first 4K·120Hz wireless video transmission solution that eliminates surrounding cables, within this year.

LG OLED Evo G3. [Photo by LG Electronics]

LG OLED TVs are sold in more than 130 countries, the largest number in the OLED industry. Since the first launch in 2013, cumulative shipments surpassed 15 million units by the end of last year, the first in the industry.

The total TV shipment volume in the first quarter was 5,484,200 units. The market share based on revenue was 17.1%. OLED TV shipments were 738,000 units. The proportion of OLED TVs in sales exceeded 30%. LG Electronics stated, "Although TV demand has contracted due to the global economic downturn, we are making efforts to manage distribution inventory at a healthy level."

The global TV shipment volume in the first quarter was approximately 46,521,800 units, the lowest figure for the first quarter since 2009. Omdia said, "The TV market is expected to recover from the second half of the year." Omdia forecasted that this year's TV shipment volume will slightly increase to 205,519,000 units compared to last year.

LG OLED Evo G3. [Photo by LG Electronics]

The proportion of OLED TVs in the overall TV market is expected to exceed 12% based on revenue this year. The share in the premium TV market is expected to grow even larger. Omdia predicted that the OLED TV market share based on revenue in the global premium TV market priced at $1,500 (approximately 1.98 million KRW) or more will reach 46.1% this year, up 9.4 percentage points from 36.7% last year.

LG Electronics said, "Over the 10 years since the launch of OLED TVs, we have improved performance, design, resolution (8K/4K) quality, and expanded form factors (device types)," adding, "We have the industry's largest OLED TV lineup ranging from 40-inch to 90-inch models."

This year, LG plans to accelerate its premium market strategy. The launch countries for the LG OLED Objet Collection Pos? will expand to over 40 countries. As of the end of last year, the number of TV brands selling OLED TVs increased to 21. LG Electronics stated, "Since OLED TVs have already established a solid trend in the premium market, we expect to accelerate the pace of market expansion."

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