LG Electronics maintained its position as the leader in the global organic light-emitting diode (OLED) TV market in the first quarter of this year.
According to market research firm Omdia on the 20th, LG Electronics' OLED TV shipments in the first quarter were approximately 704,400 units, with a market share of 52.1% based on shipments, making it the top in the OLED TV market.
Compared to the same period last year, with shipments of 626,700 units and a market share of 51.5%, shipments increased by 12.4%, and market share rose by 0.6 percentage points (P).
In particular, LG Electronics led the expansion of the large OLED TV market in the first quarter with a market share of 54.9% for TVs larger than 70 inches and 63.6% for TVs larger than 80 inches, showcasing the most extensive lineup in the industry.
The shipment share of ultra-large TVs over 70 inches in the overall OLED TV market in the first quarter was 15.3%, slightly up from 14.1% in the first quarter of last year, indicating the 'size matters' trend.
In addition, the share of OLED TVs in the premium TV market priced over $1,500 reached 44.8%, an increase of 3.5 percentage points compared to the same period last year. With OLED TVs establishing themselves as synonymous with premium TVs, LG Electronics projects that the share of OLED TVs in the premium market will surpass 50% this year.
LG Electronics is targeting the throne this year after securing the top position in the global OLED TV market for the past 12 consecutive years.
LG Electronics' total TV shipments, including OLED and LCD, in the first quarter were recorded at 5,085,600 units, with a market share of 15% based on revenue.
LG Electronics noted that it plans to continuously strengthen its leadership in the global premium TV market with a 'dual track' strategy led by LG OLED TV, recognized as a representative of premium TVs, and QNED TV, a premium LCD TV.
Meanwhile, Omdia reported that the global TV market shipments in the first quarter were approximately 47,483,200 units, marking a 2.4% increase compared to the same period last year, transitioning to a growth trend for the first time in four years. Notably, OLED TV shipments in the first quarter were 1,351,300 units, representing an 11% increase, significantly exceeding the overall market growth rate.
Omdia estimated that the annual global TV market shipments would slightly increase to about 208,907,000 units this year compared to last year. OLED TV shipments are also expected to grow by 7.8% to 6,550,000 units.