TV Market Contracts in 2021
Despite a contraction of the global TV market in 2021, Samsung Electronics and LG Electronics firmly maintained their first and second place thanks to strong premium TV sales. The two TV makers’ combined market share reached 48 percent.
Samsung Electronics posted a 29.5 percent market share in terms of revenue and a 19.8 percent share in terms of sales volume in 2021, said market research firm Omdia on Feb. 20. Samsung sold 9.43 million quantum light emitting diode (QLED) TVs in 2021, achieving cumulative sales of 26 million units in five years. Samsung QLED TVs accounted for 44.5 percent of the total revenue in the premium TV segment, worth more than US$2,500 in 2021.
LG Electronics sold 27.332 million TVs, accounting for 18.5 percent in terms of revenue and 12.8 percent in terms of sales volume. Its OLED TV sales amounted to 4,048,100 units, accounting for 62 percent of the entire OLED TV market. In 2021, the average unit price of LG OLED TVs was US$1,861 (about 2.2 million won), more than three times the average LCD TV price of US$507.7.
Meanwhile, global TV shipments fell by 1,932,000 units on year to 213.54 million units in 2021, the lowest figure since 2010.