Samsung has dominated the TV market for 17 consecutive years
According to the latest data from market research company Omdia, Samsung once again dominates the TV market, ranking first in the industry for 17 consecutive years. The more iconic event came from TCL, which surpassed LG to enter the top two for the first time. Competition in the global TV market is expected to intensify as Chinese TV companies chase Korean TV companies.
According to Business Korea, global TV shipments in 2022 were 203.26 million units, down 4.8% from 213.54 million units in the previous year. Last year, the top three in the global TV market share were Samsung (19.6%), TCL (11.7%), and LG (11.69%). The sales gap between TCL and LG was less than 30,000 units. Hisense (10.5%) and Xiaomi (6.2%) ranked fourth and fifth, making three companies from China in the top five, with a combined share of 28.4%.
TCL’s reversal of LG began in the third quarter of last year, with the former’s 12.6% market share surpassing the latter’s 11.5%. In the fourth quarter, TCL, Hisense, and LG ranked second to fourth, with market shares of 11.8%, 11.6%, and 11% respectively. The global TV market is sluggish, and emerging markets have become the main growth point, and these regions are dominated by low- and mid-priced products, which has enabled Chinese companies to expand their overall market share.
In terms of sales amount, South Korean TV manufacturers still maintain strong performance, with Samsung (29.7%) and LG (16.7%) accounting for more than 46% of total sales. The advantage in the high-end market is very obvious, and TCL (9.4%) ranks third.
Samsung revealed that it sold a total of 9.65 million QLED and Neo QLED TVs in 2022, bringing cumulative sales to 35 million since its launch in 2017. In the TV market of 75 inches and above 80 inches, they accounted for 36.1% and 42.9% of the market respectively. In the high-end TV market of more than 2,500 US dollars, Samsung accounted for nearly half of the sales amount at 48.6%.
