Samsung Electronics Rises to No.1 in Q3 TV Market... LG Electronics Leads in OLED TV Segment

Omdia Q3 Earnings Reference Material Released
Samsung TV 29.9%... LG OLED TV 55%

Samsung Electronics ranked first in the global TV market in the third quarter with a sales market share of 29.9%. LG Electronics secured a 55% share in the OLED TV market.

According to the third-quarter global TV market performance announced on the 20th by global market research firm Omdia, Samsung Electronics ranked first with a sales-based market share of 29.9%. This was a 2.4 percentage point (p) increase from the same period last year (27.5%). It also ranked first in volume share with 18.3%. A Samsung Electronics official explained, "Samsung TV has taken one step closer to being the industry leader for 18 consecutive years since 2006."

Samsung Electronics 98-inch Neo QLED 8K TV. [Photo by Samsung Electronics]

Samsung Electronics maintained its industry-leading position by expanding its premium product lineup, including Neo QLED, lifestyle, extra-large, and organic light-emitting diode (OLED) TVs. It held a 62% sales market share in the premium product market priced above $2,500 (approximately 3.25 million KRW), up 16.2%p from 45.8% in the same period last year. It also maintained first place with a 34.8% share in the extra-large market of 75 inches (diagonal screen length of 189 cm) and above.

The strategy of expanding the 98-inch (approximately 247 cm) lineup proved effective. Samsung captured a 40.4% market share for products over 80 inches (approximately 203 cm). Leading with Neo QLED, Samsung sold 5.84 million units by the third quarter, driving the premium TV market. Since first introducing QLED in 2017, cumulative sales have surpassed 40 million units by the third quarter of this year. Globally, cumulative QLED TV sales reached 10.94 million units this year. A Samsung Electronics official said, "We have once again confirmed the formula 'Premium TV = Samsung.'"

LG OLED Evo TV. [Photo by LG Electronics]

LG Electronics is likely to maintain its number one position in the OLED TV market for the 11th consecutive year. According to Omdia's research, LG OLED TV shipments from the first to the third quarter this year totaled 2,036,800 units. The shipment-based market share was about 55%. LG Electronics targeted the North American and European extra-large TV markets, securing about a 60% share of shipments for 75-inch and larger extra-large OLED TVs by the third quarter. The 75-inch and larger extra-large TV market accounts for 25% of the total OLED TV market by value.

Through premium liquid crystal display (LCD) TVs such as the 'LG QNED TV,' LG also made inroads into the wide color gamut (WCG) LCD TV market. In the quantum dot LCD TV market, which is part of the wide color gamut LCD TV market, LG Electronics ranked second with a cumulative market share of 14.6% by value as of the third quarter. Although not included in the quantum dot LCD TV share, the 'LG NanoCell TV,' first introduced in 2018, is also a wide color gamut LCD TV product. It is characterized by using NanoCell materials to express colors more precisely.

LG Electronics also showed its presence in the overall TV market. From the first to the third quarter this year, total TV shipments, including OLED and LCD, reached 16,297,800 units. The market share by value was 16.4%. During the same period, the global TV market's cumulative shipments were 143,277,000 units, similar to last year’s level.

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