Samsung Tops Global TV Market for 15th Straight Year in 2020, LG Takes Second Spot
Samsung has announced that the company topped the global TV market for the 15th consecutive year. Citing the latest data from market research firm, Omdia, the South Korean tech giant says that its global TV market share by revenue in Q4 2020 (October to December) stood at 31.8 percent while the company retained the largest annual category market share by revenue in 2020 at 31.9 percent. Data shows that Samsung’s domestic rival LG took the second spot with a 16.5 percent share, followed by Sony with 9.1 percent share.
Over the years, Samsung has unveiled a variety of TV models with LCD and OLED panels. The company, at this year’s CES 2021 event, also showcased the next-gen Neo QLED display panel alongside new MicroLED and Frame TV models. Speaking more over the latest feat, Jong-hee Han, President of Visual Display Business at Samsung said that the growth is attributed to rising demands in TV models for daily to entertainment purpose.
“We continue to be incredibly humbled by the trust placed in our vision and products; it is what drives our relentless pursuit to deliver cutting-edge innovation and a best-in-class screen experience that meets the needs of the modern-day consumer,” Han said in a blog post.
According to the latest Omdia data (via IANS), Samsung sold 7.79 million units of QLED TVs last year, up from 5.32 million units in 2019, while QLED TVs accounted for 35.5 percent of its total TV sales revenue. In the premium TV segment (priced above $2,500), Samsung led with a market share of 45.4 percent in terms of revenue. The global TV market last year grew slightly despite the COVID-19 pandemic, reaching 225.35 million units, according to Omdia. In the fourth quarter alone, global TV shipments jumped to a record high of 70.24 million units. Samsung adds that over the next few years, the company will continue to invest in R&D and product development to strengthen its core and emerging TV technology.