LG Electronics is no longer having it all its own way in the OLED TV segment, as its arch-rival Samsung Electronics is rapidly making gains after launching an expanded lineup in 2023.
Samsung sold an impressive 1.01 million OLED TVs in 2023, according to a new report from Omdia, which revealed that the South Korean company held onto its crown as the world’s top TV seller for the 18th year in a row. All told, it accounted for 30.1% of the market’s total TV revenues last year.
Omdia hasn’t yet published the report – the news came from Samsung itself – so it’s not yet clear who is further down the pecking order.
Samsung said in its announcement that it was able to retain its status as the TV world’s top dog thanks to its strategic focus on premium and large-sized televisions in the QLED and OLED segments.
According to the company, it sold an impressive 8.31 million QLED TVs last year, although that statistic is a little obscure since the term “QLED” covers a range of different LCD TVs, including premium Mini-LED models and more affordable edge-lit LCD variants that lack the most advanced functionality. Samsung’s lifestyle TVs, such as The Frame, are also included in its QLED TV sales figures.
The more impressive revelation is that Samsung managed to shift 1.01 million OLED TVs, despite only offering two distinct models - the Samsung S95C and S90C OLED TVs. All told, the company claimed a 22.7% share of the OLED TV market in terms of revenue, even though it only offered three specific sizes – 55-inch, 65-inch and 77-inch models. Samsung’s OLED TVs include both WOLED and QD-OLED models.
What’s likely to worry LG is that Samsung forecasts its OLED TV sales to surge this year. The company is expecting to significantly increase its OLED TV revenue in 2024 because it has announced an expanded lineup that includes its first-ever 42-inch and 48-inch models – a size that has proven to be especially popular with video gamers. The company will specifically utilize LG Display’s WOLED panels for its smaller models, so its rival may actually benefit from Samsung’s growing presence in the segment, even if its own market share retreats as a result.
Samsung’s expanded lineup includes the successors to last year’s models, the S95D and S90D, as well as an all-new S85D OLED model that’s somewhat lower-specced but still very capable. HDTVTest had a first look at the company’s 2024 OLED TVs at CES 2024, and you can see what to expect in the video at the bottom of this post.
SW Yong, President and Head of Visual Display Business at Samsung Electronics, said the company is proud to be once again recognized as the market leader in the global TV sector. He added that the achievement is a testament to the enduring trust and loyalty of its customers. "We are deeply committed to advancing the industry, moving beyond exceptional picture quality to offer more meaningful and valuable experiences,” he said.
Samsung’s announcement revealed that LG led the way in OLED TV revenues with a 53% market share, the 11th straight year it has topped the segment.
Omdia’s data also illustrated how Samsung continues to dominate most other TV market segments. For instance, it led the way in revenue from sales of TVs sized 75-inches that were priced at $2,500 or higher. It also claimed a 60.5% share of the revenue in terms of sales for all TVs priced over $2,500, meaning OLED, and LCD. In addition, it claimed to account for 30.4% of all revenues for TVs over 90-inches.
Despite Samsung’s success, last year was pretty sluggish overall, with less than 200 million units sold worldwide.
