Samsung entered the OLED TV market quite late. Despite being a decade late to the market, Samsung has been rising through the ranks quickly. This year, the company expanded its OLED TV lineup, and it is planning to convert that into higher sales.
Samsung has a plan to match LG in OLED TV sales
Earlier today, Samsung held the ‘Unbox & Discover 2024' promotional event ahead of the launch of its 2024 TV lineup in South Korea. During the event, the head of Samsung's TV business said that its market share in South Korea's OLED TV market is almost as much as that of its rival LG. Globally, Samsung has a 23% revenue share in the OLED TV market, and it plans to reduce that gap in 2024.
Yong Seok-woo, President and Head of Samsung Electronics' Visual Display Business, said, “Over the past two years, our OLED TVs have experienced rapid growth, and our market share has grown to nearly 23 percent. Our expanded OLED TV lineup for this year will help us narrow the gap in the market.” He added, “Our 77-inch OLED TVs' market share has grown to nearly match the competitor in the Korean market. We will continue to prioritize premium, large-screen OLED TVs to expand our share.”
Over the past two years, Samsung has sold over two million OLED TVs, while LG shipped three million last year. If you average those numbers, LG sells three times more OLED TVs than Samsung. However, this year, Samsung has added more models and sizes to its OLED TV lineup, and buyers now have more choices. Given Samsung's brand recognition, more people will likely buy OLED TVs from the company.
You can watch our video of Samsung's new OLED TV lineup that was showcased at CES 2024 below.
In 2022, Samsung had OLED TVs in two sizes: 55-inch and 65-inch. In 2023, Samsung expanded its lineup to include 77-inch and 83-inch OLED TVs. This year, the company is selling OLED TVs in several sizes and models, ranging from 48 inches to 83 inches. So, people have more choices and more affordable options.
In fact, Samsung's 48-inch and 83-inch OLED TVs use LG Display's OLED panels. Since Samsung Display is new to the market with its QD-OLED panels, it still can't make panels in as many sizes as LG Display. So, Samsung Electronics' Visual Display business decided to buy 48-inch and 83-inch OLED panels from LG Display.
