Samsung, LG lead global premium TV market in Q3 despite rising Chinese competition

Seoul [South Korea], December 1 (ANI): Samsung Electronics Co. and LG Electronics Inc. continued to lead the global premium TV market in the third quarter, even as Chinese television makers gained ground, as per a report by Pulse, the English service of Maeil Business News Korea.
The report said that Samsung held the top position in both revenue and shipments during the July-September period. The South Korean company's revenue share increased to 29 per cent from 28.6 per cent a year earlier. LG Electronics followed in second place, with its revenue share easing from 16.5 per cent to 15.2 per cent. China's TCL Technology Group Corp. and Hisense Group Co. ranked next, with 13 per cent and 10.9 per cent shares respectively.
Samsung and LG's continued dominance was driven by their performance in the high-end TV market. Samsung captured 53.1 per cent of the global revenue for TVs priced above USD 2,500 and remained the leader in the 75-inch and larger category with a 29.1 per cent share. LG held a strong lead in the OLED segment, accounting for 49.7 per cent of shipments and 45.4 per cent of revenue. Samsung's OLED TV revenue stood at 34.9 per cent during the quarter.
If the current trend continues, Samsung is expected to maintain its position as the world's top TV maker for over 20 consecutive years, while LG would mark 13 straight years as the leading OLED TV seller.
However, shipment data shows that Chinese manufacturers are closing the gap. Samsung's shipment share in the third quarter was 17.9 per cent, followed by TCL at 14.3 per cent, Hisense at 12.4 per cent, and LG at 10.6 per cent. Chinese brands collectively made up 31.8 per cent of total shipments, surpassing the 28.5 per cent share of Korean companies.
The report notes that the rise of Chinese brands comes amid a shrinking global TV market. With overall demand slowing, budget-friendly models are seeing stronger sales. Worldwide TV shipments in the third quarter dropped 4.9 per cent year-on-year to 49.75 million units, the first time the figure has fallen below 50 million. Citing a Chinese research firm the report said that global shipments, which peaked at 250 million units during the 2020 pandemic, have fallen to 216.7 million this year and may decline further through 2028.
"Building an in-house OS has become a global trend among TV makers," the report quoted Kim Jo-han, co-founder of digital platform company New ID, citing examples such as Walmart-owned Vizio's SmartCast and Hisense's Vidaa platforms.
Samsung is also scaling up its OLED TV business, using display panels from LG Display. Prices for 55-inch OLED models in Korea have recently dropped to around 1 million won (USD 680), signaling stronger competition ahead in the high-end segment. (ANI)