Samsung maintains No.1 position in global TV market

South Korea’s Samsung Electronics Co. maintained its No. 1 position in the global TV market in 2022, accounting for nearly 30% of TV sales, according to research firm Omdia on Tuesday.

Its archrival LG Electronics Inc. came in second with a market share of 16.7%. But LG remained the largest player in the organic light emitting diode (OLED) TV segment for the 10th year in a row.

Samsung saw its market share in global TV sales edging up 0.2 percentage points to 29.7% in 2022, compared to a year earlier. It has been ranked as the largest TV brand since 2006.

By shipment, it was also the No. 1 TV company with a market share of 19.6%.

"Our Neo QLED-focused premium TV marketing was successful," said a Samsung Electronics official.

It made up 48.6% of premium TV sales worldwide last year.

By comparison, LG Electronics’ market share declined 1.8 percentage points to 16.7% on-year in 2022, hit by an inventory build-up in the second half of last year.

In the OLED TV segment, however, LG remained the indisputable No. 1 player both in sales and shipments.

It accounted for 54.6% of premium TV sales worldwide, while making up 58.7% of shipments. Last year, it shipped 3.8 million units of premium TVs.

Overall, the global TV market suffered a shipment decrease last year due to the softening demand. TV makers shipped a total of 203.3 million units in 2022, down 4.8% on-year.

However, the research report showed that Chinese TV brands have rapidly narrowed their gap with South Korean rivals.

China’s TCL Technology Ltd. overtook LG Electronics for the first time in terms of TV shipments. It shipped 23.79 million units in 2022, slightly more than LG Electronics’ 23.76 million units.

Meanwhile, Samsung is gearing up to challenge LG in the premium TV market. It is set to launch a 77-inch quantum dot organic light emitting diode (QD-OLED) TV in South Korea, its largest-ever premium TV model to be unveiled at home.

Write to Ji-Eun Jeong at jeong@hankyung.com


Yeonhee Kim edited this article.