Samsung Electronics, LG Electronics account for a half of global TV sales in Q3

SEOUL: Sales of Samsung Electronics and LG Electronics accounted for 47.1%, nearly half of the global TV sales in the third quarter of this year. The cumulative sales of the two companies in the third quarter also accounted for nearly half with a 49% share.

According to market research firm Omdia on the 19th, Samsung Electronics’ TV sales accounted for 28.7% and LG Electronics accounted for 18.4% in the global market in the third quarter. For cumulative sales, Samsung Electronics accounted for 30.2% share and LG Electronics 18.8% share. The combined market share was 49%.
Until the third quarter of this year, Samsung Electronics and LG Electronics sold 30.84 million and 6.472 million units, respectively.

In particular, Samsung Electronics has maintained its No. 1 position in market share for 16 consecutive years, with 30.2% share in sales and 20.6% in sales quantity.

Despite the production disruptions due to components shortage and COVID-19, Samsung Electronics is maintaining strong sales by expanding premium TV lineups such as Neo QLED TV and Lifestyle TV.

Samsung’s QLED products, mainly focused on Neo QLED, sold 6.29 million units in the third quarter, up 24.8% year-on-year. Samsung Electronics is expected to achieve 10 million sales of QLED this year.

LG Electronics’ OLED TVs are also rapidly growing. LG Electronics’ OLED TV shipments increased 80% year-on-year to 899,000 units in the third quarter of this year. It is the highest 3rd-quarter sales of OLED TVs.

LG Electronics’ cumulative OLED TV shipments in the third quarter of this year were 2,655,000 units, more than double from last year, and have already surpassed last year’s annual shipments. This year’s annual shipments are expected to reach 4 million units, twice that of last year.

LG Electronics is proving its strong competitiveness with 60% share in global OLED TV shipments in the third quarter. According to LG Electronics, the number of brands selling OLED TVs increased to 20 this year, and also some brands are expected to enter the global OLED TV market next year. (ANI/Global Economic)