TVs with 70-inch or larger displays are set to become a mainstream in the global TV market driven by strong pent-up demand for premium QLED and OLED TVs of Samsung Electronics and LG Electronics amid the pandemic-driven restrictions.
According to market researcher Omdia, worldwide shipments of 80-inch or larger TVs are forecast to reach 1.05 million units this year, up 48 percent from a year earlier. That would mark the first time ever for the global sales volume of 80-inch or larger TVs to top 1 million. The projection is also up 14 percent from Omdia’s earlier forecast of 930,000 units made in the second quarter, reflecting a shift in consumers’ preference toward more high-end and larger TVs.
This is good news to Korean TV makers Samsung Electronics and LG Electronics that are currently leading the global ultra-large TV market, taking up about three-quarters of the market thanks to growing demand for their premium QLED and OLED TV models. Samsung Electronics was responsible for 53.9 percent of the 80-inch or larger TV shipments in the first half, and LG Electronics 20.8 percent.
According to Samsung Electronics, sales of its TVs that are 75 inches or larger in the local market in the first eight months of this year more than doubled from the same period of last year, and 80-inch and larger TVs tripled, indicating that ultra-large TVs are becoming a mainstream TV segment.
This is also backed by the pent-up demand amid the pandemic that helped global TV sales for the third quarter ending September this year hit 56.9 million units, the largest since the fourth quarter of 2019. The demand from the North American market was the highest with 13.3 million units in the July-September period, followed by Western Europe with 7.36 million units.
Demand for premium segment QLED TVs, currently led by Samsung Electronics, is exceptionally strong. Global QLED TV shipments are estimated to have reached 2.4 million units in the third quarter, up 83.9 percent from the same quarter last year. OLED TVs, dominated by LG Electronics, also has surged, with its global shipments in the third quarter expanding 35.7 percent to 904,000 units from a year earlier.
The overall big screen TV market of 70-inch or larger is estimated to reach 7.62 million units this year, up 31.3 percent from last year.
By Chun Gyung-woon, Hwang Soon-min, and Cho Jeehyun
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]