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Models pose with Samsung Electronics’ Neo QLED 8k television (courtesy Samsung Electronics)

Despite the global TV market shrinking in the first half of 2022, Samsung Electronics maintained its dominant position with the largest share of the TV market.

According to data published on Tuesday by market research firm Omdia, the global TV market in the first six months of the year was worth US$47.5 billion. This is a 12.5% decrease from the US$54.3 billion valuation the industry recorded at the same time last year.

Shipments of TVs also reportedly fell by 6.6% to 92.604 million units compared to the 99.109 million units sold in the same period last year. This decrease is largely seen as a result of a decline in demand due to the Ukraine crisis as well as inflation.

In terms of market share by company, as of the first half of this year, Samsung Electronics ranks first with its market share of 31.5%, marking a 0.5 percentage point increase compared to the same period last year. After Samsung, LG Electronics holds the biggest market share with 17.4%, followed by TCL Technology at 8.7%, Hisense at 8.2%, and Sony at 7.4%.

Samsung Electronics has been able to consistently maintain its position as the top TV market share holder since 2006.

Regarding the premium TV market, which refers to TVs worth more than US$2,500, Samsung Electronics’ share of the market is 53.6% — greatly exceeding that of both LG Electronics (21.5%) and Sony (17.2%).

“Since 2017, 30.65 million units of QLED products, which is our main product, have been sold as of the first half of this year,” Samsung Electronics said, adding that the company also recorded a “48.6% share in the 80-plus-inch TV market.”

Also, despite the decline of the global TV market overall, the OLED TV market recorded 2.74 million more units shipped in the first half of the year, marking an increase of 0.6% compared to the same period last year. LG Electronics has a 62% share in the OLED TV market.

In total, LG Electronics shipped 11.36 million OLED and LCD TVs in the first half of this year, 33.2% of which were OLED TVs.

By Lee Jeong-hun, staff reporter

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