70 Inches Plus
With superior image quality compared to Liquid Crystal Display (LCD) TVs, the Organic Light Emitting Diode (OLED) TV market, having entered a robust growth phase, is seeing a rise in ultra-large models, those 70 inches and above. This trend reflects the growing preference in the TV market for ultra-high-quality and ultra-large screens.
According to market research firm Omdia on July 7, the shipment of ultra-large OLED TV panels (70 inches or larger) is expected to grow from 710,000 units in 2022 to 1.7 million units in 2026, a predicted annual growth rate of 20%. This is a significantly larger increase compared to the overall OLED TV panel shipments, which are expected to grow by an average of 6% per year, from 7.4 million units to 10 million units.
As a result, the proportion of 70 inches or larger panels in the total OLED TV panel shipments is expected to grow each year. The market share of these ultra-large OLED panels, which was at 9.6% in 2022, is forecast to expand to 14.8% in 2023, 15.1% in 2024, 15.9% in 2025, and 17.3% in 2026. This is predicted in line with the continued preference for ultra-high-quality and ultra-large screens in the premium TV market. Omdia also forecast that the average size of OLED TV panel shipments will enter the 60-inch range for the first time this year, increasing from 58.8 inches last year to 60.2 inches.
The home appliance industry is in the midst of size competition as the OLED TV market enters a significant period of growth this year.
Last month, Samsung Electronics launched the sale of an 83-inch OLED TV in the global market, starting with the United States, at a retail price of US$5,399.99. Sales in South Korea are also expected to begin this month, as announced by Samsung Electronics. Samsung is also preparing to release a 77-inch OLED TV, having recently completed compatibility registration with the National Radio Research Agency. The diversification of the premium lineup, including large OLED TVs, is analyzed as a move to expand the influence in the premium TV market. Looking at the size distribution (by quantity) of Samsung TVs, 85-inch models accounted for 30% from January to July this year, an increase of 1.8 times compared to last year, while 75-inch models remained at 32%, the same as the previous year.
LG Electronics, a leader in the OLED TV market, plans to fend off Samsung’s pursuit with a diversified and distinctive lineup. LG Electronics recently launched the world’s first 97-inch OLED TV, equipped with 4K and 120Hz wireless transmission technology, allowing for wireless high-quality video transmission without connection cables other than the power cord.
An industry insider stated, “Samsung Electronics has laid the groundwork for strengthening market influence through mass production by securing a stable supply of OLED panels in cooperation with LG Display,” and added, “The competition between LG Electronics, aiming to maintain its market leadership, and Samsung Electronics, seeking to snatch it, is expected to become even more intense.”