LG sees annual OLED TV sales pass 2 million for first time
Shipments of Organic Light Emitting Diode (OLED) televisions manufactured by LG Electronics surpassed 2 million last year, a new milestone for the high-end TV models.
The Seoul-based TV maker announced the annual record of 2.04 million, up 23.8 percent over a year earlier, citing data from market tracker Omdia on Wednesday.
The growth of OLED TV shipments is important for LG, as the electronics maker moves to switch its focus toward premium OLED models rather than mid-range liquid-crystal display (LCD) TVs.
LG is the world’s largest OLED TV maker, accounting for 56 percent of global OLED TV shipments.
The average selling price of LG’s OLED TVs stood at $1,971.90, over four times higher than that of LCD TVs, at $428.
Last year was considered a watershed moment for the OLED TV market as Chinese electronics giant Xiaomi and U.S. appliance maker Vizio both debuted their first OLED TVs.
The releases pushed up the number of OLED TV makers to 19 globally.
But in the overall TV market, Samsung Electronics retained the crown as the world’s largest TV maker, with its own QLED-branded TVs selling well last year.
Its market share topped the list at 31.9 percent in 2020, a record high share, according to Omdia.
Samsung was followed by LG Electronics’ 16.5 percent, which went up 0.2 percentage points compared to 2019.
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