SEOUL: LG Electronics Inc shipped more than four million units of premium organic light emitting diode (OLED) TVs last year, double the volume from a year earlier, on steady demand for premium TVs, a report showed yesterday.
The South Korean consumer electronics giant shipped a total of 4.04 million OLED TVs last year, with record quarterly sales of more than 1.41 million units in the fourth quarter, market researcher Omdia said.
Last year, the global OLED TV sector grew a whopping 80% on-year to hit sales of more than 6.5 million units.
The global OLED TV market, led by LG with a market share of 62%, is expected to grow to eight million units this year.
OLED is highlighted by self-illuminating pixels that do not require a separate light source, allowing manufacturers to produce lightweight, thin and flexible display products.
The OLED TV segment is forecast to continue to grow and take up more than 42% in the high-end TV market with TVs priced at U$1,500 (RM6,276) and above this year.
At the end of last year, there were around 20 global TV manufacturers selling OLED TVs.
The global TV shipments came to 213 million units last year, the lowest since 2010, as more people reduced time spent at home and ventured out amid the prolonged Covid-19 pandemic.
Of the total, LG shipped 28.3 million units, taking up 18.5% of the market, while another South Korean tech giant Samsung Electronics Co led the market with a 29.5% market share.
To attract new customers and retain existing users, LG said it had stepped up its efforts to increase built-in applications on its smart TVs, as more people have begun to use TVs as a channel to browse and consume entertainment, health and education content, among many others.
The company said the number of its smart TV applications surpassed 2,000, up more than 30% from the end of 2019, with education programs rising the fastest.
Among LG’s total TV shipments last year, smart TVs took up 95%.
Globally, smart TVs accounted for 88.6% compared with 79.4% in 2019, according to Omdia. — The Korea Herald
Source: The Star
