Samsung Electronics launches the Neo QLED 8K TV, an AI-enabled model, in the first quarter of 2024
Samsung Electronics Co. has retained the top spot in the global TV market in the first quarter of this year, cementing its lead in the ultra-large premium segment, while its local peer LG Electronics Inc. maintained its No. 1 position in the organic light-emitting diode (OLED) TV market, according to Omdia.
TV shipments worldwide declined 1% in the quarter to the lowest level for a single first quarter since 2009. But the research firm forecast the global TV market to rebound from a three-year dip from the current quarter.
Samsung made up 29.3% and 18.7% of the global TV market in terms of sales value and volume in the January-March quarter, respectively. The figures represent the largest shares among TV makers.
The South Korean brand has led the global TV market for 18 consecutive years since 2006.
In the first quarter, ultra-large premium TVs drove its sales higher after unveiling the AI-enabled Neo QLED TV at CES 2024, the world’s largest tech show, in January. QLED is short for quantum dot LED.
Jung Jae-chul, head of LG Electronics home entertainment R&D division, explains the functions of its OELD evo TV on March 27 (Courtesy of LG Electronics)
Particularly, Samsung dominated the market of premium TVs with a price tag of $2,500 or above, accounting for 53.2% of sales.
For models priced at $1,500 or above, it controlled 55.2%.
Of ultra-large TV sales, it accounted for 29.6% of 75-inch TVs or larger and 34.4% of 80-inch TVs or bigger.
LG LEADS OLED TV MARKET
In the world’s TV market, LG Electronics came second with a share of 16.6% in terms of sales value in the first quarter.
By sales volume, however, it lost out to China’s TCL Electronics, which claimed a 12.6% share.
In the OLED TV market, LG commanded 52% of the shipment of 627,000 units in the first quarter. Samsung trailed LG with a market share of 27.0%.
Samsung Electronics unveils 114-inch Micro LED TV in May 2024 with a factory price of $132,000 (Courtesy of Samsung)
THE BIGGER THE BETTER
Of the shipment of OLED TVs, 70-inch or larger-sized TVs, classified as ultra-large models, expanded their share by 4.6 percentage points to 14.1% in the first quarter. That is the largest percentage for the segment for a single first-quarter.
LG commanded 53% of the shipments in the category of 70-inch, or larger-sized OLED models.
In the segment of 80-inch or larger OLED TVs, LG accounted for 58.4% of shipments, led by its 97-inch model, the world’s largest for the category.
Including both OLED and LCD TVs, LG shipped 5.41 million units in the first quarter, equivalent to 16.6% of global TV shipments in terms of value.
In the global TV market, OLED models accounted for 1.21 million units of shipment in the period, with their sales making up 28% of TV sales.
In the quarter, TV shipments shrank by 1% to 46.4 million units in the world from the same period the year prior. That is the lowest level for a single first quarter since 2009.
By Chae-Yeon Kim
Why29@hankyung.com
Yeonhee Kim edited this article
