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A QLED 8K TV from Samsung Electronics. (provided by Samsung Electronics)

Samsung Electronics achieved a historic high share of the global TV market propelled by its QLED and other products amid a boom in global sales for the third quarter (Q3, July to September) due to the effects of “pent up” demand amid the COVID-19 pandemic. LG Electronics has also been putting up strong numbers. South Korean firms sold more TVs than Chinese firms in the global market in Q3, putting them at the top of the global TV competition.

According to figures shared on Nov. 24 by the global market research firm Omdia, the global TV market (including all categories such as QLED, OLED, and extra-large TVs) included shipments of 62.87 million units and sales of US$28.15 billion during Q3 2020, representing respective growth rates of 14.7% and 11.8% compared with the same period in 2019. The numbers indicate that the TV market grew in Q3 because of an increase in demand among people confined to their homes by the pandemic; this combined with pent up demand from people putting off their purchases during the first half of the year.

Samsung Electronics recorded Q3 figures of 14.85 million units shipped and US$9.32 billion in sales, representing respective rises of 39% and 22% compared with the same period in 2019. With its premium QLED lineup, the company increased its global market share to 33.1% in terms of sales value. With its record high quarterly market share, Samsung Electronics accounted for one-third of global TV sales in dollar value terms.

LG Electronics registered a market share of 16.6% in sales value, putting it in second place ahead of Sony (10.1%) and the Chinese companies TCL and Hisense (7.3% each).

In terms of shipments, Samsung Electronics ranked first with a 23.6% market share, followed by LG Electronics in second (11.6%), TCL (10.9%), and Hisense (9.0%). The combined 35.2% market share for sales volume recorded by South Korean businesses in Q3 put them in first place ahead of China’s combined share of 33.8%. TV shipments by South Korean companies achieved their highest Q3 total in history. Sales in the North American market reached a record high of more than 16,399,000 units, while Western Europe and Japan recorded their highest level of Q3 shipments since 2011, which helped propel growth for the TV market as a whole. In terms of dollar value, the combined 49.7% Q3 market share for Samsung and LG means that South Korean businesses accounted roughly half of the total TV market.

The cumulative number of TVs sold by Samsung Electronics as of Q3 stood at over 33.92 million units. Analysts attributed the market share increase for South Korean businesses to continued growth in the premium lineup including QLED and OLED TVs, as well as rising sales for extra-large TVs. According to Omdia, Samsung recorded 2.33 million units in QLED TV sales alone in the global market during Q3 2020 — more than doubling the 1.16 million units sold in the same period in 2019. Samsung’s cumulative QLED sales totaled over 5.04 million units through Q3, putting them roughly on par with the 5.32 million units of QLED TVs sold in all of 2019.

Sales of extra-large TVs also increased. Samsung Electronics dominated the market for 80-inch TVs and larger with a share of 53.5% in dollar value terms, followed by Sony in second place with 21.5% and LG in third with 14.1%. During Q3, the global market for 80-inch TVs and larger grew by 146.5% in terms of shipments and 80% in terms of dollar value compared with the same period in 2019; for Samsung Electronics, the respective increases amounted to 193% and 101%. At the same time, analysts noted that the scale of the market for premium TVs that cost US$2,500 or more decreased somewhat amid the trend of non-face-to-face consumption, as offline sales have given way to online ones.

In the case of OLED TVs, where LG, Q3 sales totaled over 930,000 units, representing an increase of 39.8% from the same period in 2019. LG Electronics recorded over 500,000 units sold, while Sony registered sales of over 230,000 units. Cumulative OLED sales stood at over 2,125,000 units as of Q3. Over 2.76 million QLED TVs were sold by Samsung and others during Q3, with cumulative sales of more than 5,985,000 units, or roughly three times greater than OLED TVs.

By Cho Kye-wan, staff reporter

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