Korean TV manufacturers garnered a market share of 30.6% in the first half of 2023

Recently, the market research firm Omdia unveiled its latest global television market figures. The data highlights that during the first half of this year, Chinese TV manufacturers commanded a striking 39.1% of the market share, an uptick of 2.7 percentage points from the same period last year. This indicates that out of every ten televisions globally, four bear the imprimatur of Chinese brands.

According to Business Korea, Korean TV manufacturers garnered a market share of 30.6% in the first half of 2023, securing the second spot, albeit with a decline of 2.7 percentage points year-on-year. The ebbing market share of Korean enterprises mirrors the growth enjoyed by their Chinese counterparts. The chasm between China and Korea, which began at a modest 0.97 percentage points in 2019, has widened progressively, reaching 0.99 points in 2020, 2.78 points in 2021, 6.68 points in 2022, and exhibiting a stark divergence of 8.5 points in the first half of this year.

Samsung remains entrenched at the pinnacle with a market share of 19.3%, despite experiencing a contraction of 1.7 percentage points from the previous year. Following its overtaking of LG last year, TCL persists as the runner-up, boasting a market share of 12.4%, an ascent of 1.3 percentage points from the preceding year. The gap between TCL and industry behemoth Samsung has narrowed from 9.9 points to a mere 6.9 within a year, marking an increasingly formidable competition. Notably, Hisense, with its 11.7% market share, surpassed LG to clinch the third position, marking a growth of 2.2 percentage points year-on-year. LG, having been outstripped by Chinese enterprises consecutively, plummeted from second to fourth place within a year, securing a market share of 11.3%. However, a silver lining for LG is its commanding presence in the OLED TV segment, where it accounts for approximately 55.7% of shipments.

Japan, once a powerhouse in television production, grapples with formidable challenges. The market share of Japanese TV manufacturers dwindled from 12.08% in 2019 to a mere 7.9% in the first half of 2023, underscoring a discernible decline. Of particular note, Sony’s market share, for the first time this year, ebbed to below 2%.