Samsung, LG lead global TV market in Q3 2023

Samsung Electronics Co. has retained the number one position in global TV market share, hitting a 30% mark in this year's third quarter, marking a potential 18th consecutive year of leadership. LG Electronics Inc. is not far behind, maintaining its dominance in the organic light-emitting diode (OLED) TV market, edging towards an 11th year at the summit.

According to global market research firm Omdia's data released on Tuesday, Samsung Electronics clutching a 29.9% slice of the market pie based on Q3 sales, outperforming LG's 16.7%. The race for third and fourth is a Chinese affair, with TCL and Hisense capturing 10.6% and 9.0%, respectively.

Amid a shrinking global market, both South Korean electronic giants have bolstered their catalogs with ultra-large and premium offerings.

Samsung's strategy appears particularly effective in the high-end market, with a staggering 62% share in the over $2,500 category, a significant jump from last year's 45.8%. In the jumbo TV arena—those over 75 inches—Samsung's supremacy remains unchallenged with a 34.8% share.

Samsung's QLED TVs, which hinge on LCD technology, have seen robust sales, moving 10.94 million units in the first nine months of 2021 alone, 5.84 million of which bear the Samsung badge, pushing past 40 million in cumulative sales since 2017.

LG Electronics, meanwhile, has kept its hold on the OLED market, dispatching 2,036,800 units in the first three quarters, which accounts for a commanding 55% market share.

In a move to woo the premium segment, LG unleashed its wireless OLED TV series in the West, a pioneering line with 4K, 120Hz wireless transmission capabilities, available in sizes up to 97 inches.

LG's total shipments, encompassing both OLED and LCD models, hit 16,297,800 units in Q3, capturing a 16.4% market stake.

To further entrench its position, LG is doubling down on the wide color gamut (WCG) LCD TV market, pushing its premium LG QNED and LG NanoCell TVs. This year's lineup from LG includes 22 varieties of QNED TVs, outfitted with the latest Mini LED Evo technology, and comes in multiple resolutions and sizes, catering to a diverse range of consumer preferences.

Write to Nan-Sae Bin at binthere@hankyung.com