Samsung Leads in U.S., While LG Strong in Europe
OLED TVs are leading the European market for premium TVs costing more than US$2,500, while the U.S. premium TV market is led by LCD TVs. The global OLED TV market is dominated by LG Electronics, while Samsung Electronics is the key player in the premium LCD TV market.
Europe and the United States accounted for 51.4 percent of the premium TV market in the first quarter of this year, an IHS Markit report said on June 23.
TVs with OLED panels account for 65.1 percent of the European premium TV market. Conversely, in the U.S. premium TV market, TVs with LCD panels posted a market share of 63.8 percent.
"In Europe, OLED TVs are gaining popularity thanks to consumers’ relatively fast acceptance of new technology and preferences for medium-sized TVs," said an industry analyst. "In the U.S., the majority of homes are large, so consumers usually choose LCD TVs 70 inches or bigger."
In particular, LG Electronics has taken up 56 percent of the European OLED TV market, widening its gap with Sony (20.9 percent), the biggest competitor in the OLED TV market.
In the meantime, in the U.S. premium LCD TV market, Samsung Electronics chalked up an overwhelming share of 82.6 percent, followed by LG Electronics with 10.6 percent.
LG and Samsung are cementing their positions in the premium TV market as the two companies are taking control of the European and U.S. TV markets, respectively.
The premium market for TVs worth more than US$2,500 a unit occupies only 1 percent of the global TV market. TVs under US$200 account for 21.1 percent of the total, while TVs between US$500 to US$750 represent 16.6 percent. But the market of TVs costing more than US$2,500 is very competitive as the products are loaded with the latest technology and enjoy strong profitability.
In the global TV market, Samsung Electronics ranked first with a market share of 29.4 percent, followed by LG Electronics with 16.5 percent.