Samsung topped the global TV market again in 2021 with a 29.5% market share (revenue) followed by LG with a 18.5% market share, according to analyst firm Omdia.
South Korean dominance
South Korea's two electronics giants, LG Electronics and Samsung Electronics, together commanded almost half (48%) of the global TV market last year in terms of sales revenue, down 0.5% from 2020.
Since 2006 with the launch of its 'Bordeaux' LCD TVs, Samsung has been the leader in the global TV market. In 2021, Samsung maintained its lead with a 29.5% revenue market share and a 19.8% unit market share, according to Omdia and reported by Business Korea and Pulsenews.
- "We were able to achieve the No. 1 position for 16 years in a row thanks to consumers’ trust and love for Samsung TV," said Il-kyung Seong, VP of Visual Display Business at Samsung Electronics.
LG accounted for 18.5% in revenue market share – a record for the company – and 12.8% in unit market share.
Samsung sold approximately 42 million TVs last year while LG sold approximately 27 million TVs.
Sony ranked third with a 9.5% revenue market share, TCL fourth with 8.0% and Hisense fifth with 6.8%. Unit market shares figures were not provided.
In 2005, six Japanese brands – Hitachi, JVC, Panasonic, Sharp, Sony and Toshiba – were among the top-10 global TV makers, but today South Korea controls the market.
Samsung and LG also have a firm grip on the premium TV segment though sales of large-sized and premium LCD TVs ("Neo QLED") and OLED TVs. Sales of "QLED" LCD TVs are expected to fall in 2022 while sales of OLED TVs are expected to increase markedly.
Global TV shipments reached more than 210 million units in 2021.
- Source: Omdia via Business Korea, Pulsenews
