The OLED TV market, recognized as a top-tier premium TV segment, is experiencing a breath of fresh spring air. Attention is focused on whether LG Display, the global leader in the OLED TV panel market, can turn the tide.
According to market research firm Omdia on March 25, global TV shipments have been on the decline, recording approximately 225 million units in 2020, 213 million units in 2021, 232 million units in 2022, and 212 million units in 2023. However, this year it is expected to halt the decline and rebound to 205 million units.
What stands out is the growth of the OLED TV market. While Omdia projects a 1.8% increase in total TV shipments this year, OLED TV shipments are expected to rise by 12.5%. With OLED TVs accounting for about 40% of global shipments, high demand in Europe, where large sporting events like the Paris Olympics and Euro 2024 are scheduled, is anticipated to boost OLED TV demand.
Consequently, set manufacturers, which had focused on depleting panel inventories, are expected to increase their inventory starting from the first quarter, projecting OLED TV panel shipments to exceed set shipments (6.3 million units) by reaching 7.4 million units this year. Moreover, the operation rate of large OLED fabs, which remained at 50% last year, is expected to rise to 75% in the second half of this year due to the increased shipments.
In this context, LG Display plans to strengthen its leadership in the premium TV market by leveraging its new Meta Technology 2.0. This technology is capable of achieving the highest brightness among existing OLED TV panels, with a maximum luminance of 3,000 nits.