According to the TV industry on November 23, LG Electronics is leading the global OLED TV market with a share of more than 95%. According to market researcher IHS, Korea led by LG Electronics sold 242,400 TV units of 253,800 units sold in the first half of this year. Currently, with LG Electronics leading the market, China's Skyworks, Changhong and Konka and Japan’s Panasonic are competing in this market.
In addition, some Chinese companies declared that they will produce TVs through their own technology and launch them. Japan’s Sony which was a long-time leader of the TV market also jumped on the bandwagon, expanding the TV market itself in earnest this year. Also, the number of participating companies is expected to increase further as Europe’s Philips, Denmark's Bengal & Olufsen, Turkey's Vestel, and Germany's Loewe decided to enter the OLED TV market by the end of this year or at the beginning of next year at the latest. As LG Electronics is competing with manufacturers of quantum dot (QD) display TVs based on liquid crystal display (LCD), LG Electronics is welcoming other TV companies to the OLED TV camp.
"We see the growing number of competitors not as a threat but as an opportunity," said a representative of LG Electronics. "Even if LG Electronics' overall market share falls, the overall OLED TV market will increase, thus LG Electronics’ sales will rise."
LCDs outclassed PDPs in standard competition between plasma display panels (PDPs) and LCDs that shared the flat-panel TV market in the past as LCDs were ahead of PDPs in terms of economies of scale. That is to say, taking into consideration the fact that major TV companies’ moves can lead to major trends in the global TV market, some analysts say that OLEDs will naturally replace LCDs. Earlier, US IT media firm CNET evaluated that the LG OLED TV clearly towered over LCD TVs.