"Premium Strategy Worked"... Samsung and LG Sweep Global TV Market in First Half (Comprehensive)

Samsung Electronics and LG Electronics captured nearly 50% of the global TV market share in the first half of this year by emphasizing a premium strategy despite the sluggish TV market.

Samsung Neo QLED 8K

On the 21st, global market research firm Omdia announced that Samsung Electronics ranked first with a 31.2% share of the global TV market by value in the first half of the year. The shipment volume was 17,927,700 units. Samsung Electronics has maintained the number one position in the global TV market for 18 consecutive years despite the market difficulties.

LG Electronics shipped a total of 10,482,400 TVs, capturing a 16.2% market share by value. This means that nearly half of the global TV sales value in the first half of the year came from Samsung Electronics and LG Electronics.

Samsung Electronics particularly stood out in the premium TV market priced above $2,500. Leading with Neo QLED, it recorded an overwhelming 61.7% market share. In the ultra-large TV market of 80 inches and above, Samsung Electronics achieved a 41.6% share with its newly released 98-inch models this year. This figure surpasses the combined shares of the second to fourth-ranked companies, demonstrating Samsung Electronics' influence in the ultra-large TV market.

LG Electronics dominated the global OLED (organic light-emitting diode) TV market. LG Electronics' OLED TV market share in the first half was 55.7%. Marking the 10th anniversary of OLED TV launches this year, LG solidified its leadership position in the next-generation premium TV market with a majority share. OLED TVs, the top-tier lineup of LG's TV sales in the first half, accounted for up to 30% of the sales. Samsung Electronics, a latecomer in the OLED TV market, sold 352,000 OLED TVs in the first half, capturing an 18.3% share and ranking second.

LG OLED Evo

Amid fierce challenges from Chinese TV manufacturers, Samsung Electronics and LG Electronics have maintained their dominance in the global TV market through market strategies focusing on premium and ultra-large TVs. They have effectively leveraged the trend of “the bigger the TV, the better,” known as Geogeuikseon (巨巨益善).

Samsung Electronics sold approximately 4 million QLED units in the first half of this year, led by Neo QLED products. Since the first launch in 2017, QLED products have cumulatively sold 39.66 million units up to the first half of this year, surpassing 40 million cumulative sales in July. LG Electronics recorded an overwhelming market share of about 64.2% by shipment volume in the ultra-large OLED TV market of 75 inches and above in the first half of this year. LG plans to continue targeting demand for ultra-large and premium TVs in the second half by leading with the ‘LG Signature OLED M,’ the world’s first 97-inch OLED TV equipped with a 4K·120Hz wireless solution, unveiled last month as the largest OLED TV currently available.

Meanwhile, global TV shipments in the first half of the year totaled 92,706,600 units, maintaining a level similar to the previous year.

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