LG dominates OLED TV market
South Korea’s dynamic duo of Samsung Electronics and LG Electronics ruled the global TV market during the first half of this year, according to Omnia on Aug. 23.
The London-based business tracker noted that Samsung carved out 31.5 percent of the TV market during the January-June period, up 0.5 percentage points from a year ago.
LG saw its market share go down by 1.6 percentage points to 17.4 percent but managed to assume second place with a market share of 17.4 percent.
Chinese companies of TCL and Hisense followed with 8.7 percent and 8.2 percent, respectively, followed by Sony of Japan with 7.4 percent.
When it came to premium TVs, of which price is higher than $25,000, the two Chinese players failed to make their presence felt. Instead, Samsung ruled the market with 53.6 percent, chased by LG with 21.5 percent and 17.2 percent.
Samsung remained ahead of the curve with its QLED TV technology, while LG beat its competitors in the OLED market.
Otherwise called as a quantum dot, QLED delivers a higher brightness while boasting such advantages of longer life, lower price, bigger screen, and no risk of burn-in.
In comparison, OLED has bragging rights for such merits as a better viewing angle, deeper black levels, and less power consumption. As a result, gamers love the option.
However, the overall TV market shrank as the novel coronavirus slowed down. During the first half of 2022, TV makers shipped 92.6 million units, down 6.6 percent from a year before.
In terms of value, the amount plummeted by 12.5 percent.
Watchers expected that the downward trend would continue for the time being.
“Over the past two years, so many people shopped TV sets as they mostly stayed at home due to COVID-19, giving windfalls to TV manufacturers,” Prof. Seo Yong-gu at Sookmyung Women’s University said.
“But things are different now as folks spend more time outside of their home. Hence, the TV sales are expected to remain weak for the time being.”
Yet, there are optimists who expect the TV sales boom later this year when the 2020 FIFA World Cup will take place in Qatar.
In the past, people gobbled up TV sets to watch one of the world’s largest sports events.