TECH NEWS – LG Electronics (LG) once again dominated the OLED TV market last year with a 52.4 percent market share. The company has led the premium TV segment for the twelfth consecutive year and continues to improve the user experience of its products by improving picture and sound quality and providing AI-based personalization features.
LG sold 3.18 million OLED TVs worldwide last year, according to market research firm Omdia. In the fourth quarter, more than 1.1 million units were shipped, demonstrating the company’s ability to provide cutting-edge technology to meet the growing demands of consumers.
Omdia’s TV market report also revealed that OLED TVs will account for 45 percent of the premium TV market (models priced at $1,500 and above) in 2023, an increase of 8.5 percentage points from the previous year. OLED TV market share in the aforementioned segment is expected to exceed 50 percent this year, and LG continues to strive to be a market innovator and maintain its leadership in sales.
With the continued growth in demand for large-screen TVs, sales of ultra-large OLED models have also increased, currently accounting for 16 percent of the OLED TV market. Last year, LG led the way in this area, capturing 57.5 percent of the market with its 75-inch and larger OLED screens – including 77-, 83-, 88- and 97-inch models.
With more than a decade of OLED innovation behind it, LG will soon unveil its latest OLED TVs, which offer a number of new features for consumers. These include wireless streaming of audio and visual content up to 4K 144Hz without lag or quality degradation, AI-driven personalization features through webOS, and superior picture quality thanks to increased brightness and perfect black contrast.
Last year, manufacturers sold 208.8 million TVs globally, marking the first time in three years that the market has expanded. OLED TV sales rose 8 percent year-on-year to 6.07 million units. LG sold 22.6 million TVs, including OLED and LCD models, last year, accounting for 16.1 percent of global TV market revenue.
Source: LG press release
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