LG is leading the European market for premium TVs with its OLED TVs, while Samsung is leading the US market for premium TVs with large-size LCD TVs, according to IHS Markit and a report by Business Korea.
The two Korean TV makers are dominating the market for premium TVs, according to analyst firm IHS Markit. Premium TVs are defined as displays costing more than $2500 US dollars.
In the first quarter of 2019, OLED TVs accounted for 65.1% of the European premium TV market. In the US, LCD TVs accounted for 63.8% of the premium TV market.
Data reveals that buyers in Europe prefer medium-size TVs, while buyers in the US prefer TVs 70 inches or larger. Prices on large-size LCD TVs have fallen considerably in recent years while 77-inch OLED TVs remain prohibitively expensive.
- "In Europe, OLED TVs are gaining popularity thanks to consumers’ relatively fast acceptance of new technology and preferences for medium-sized TVs," an industry analyst told Business Korea. "In the U.S., the majority of homes are large, so consumers usually choose LCD TVs 70 inches or bigger."
LG leads the European OLED TV segment with a 56% share compared to Sony's 20.9% share. LG has managed to widen its lead in recent months.
The US premium LCD TV market is led by Samsung with a dominating 82.6% share, followed by LG's LCD TVs that account for 10.6%.
In the global TV market Samsung remains the leader with a market share of 29.4%. LG comes second with a 16.5% share.