Samsung Electronics held a global TV market share of 30.3% (based on revenue) in the third quarter of the year, securing its lead in the global market since 2006.
According to market research firm IHS Markit on Wednesday, the South Korean tech giant outstripped its competitors, recording a 19.4% market share in terms of shipments.
Samsung attributed such result to strong sales of premium TVs. The company recorded a market share of 47.8% in the super-size TV market with over 75-inch screen in the third quarter of the year. As for premium TVs priced over 2,500 U.S. dollars, Samsung boasted a market share of 49.6% in the same period. Samsung also overtook its competitors in the 8K-highest resolution TV market with an accumulated market share of 87.9% from the first quarter to the third quarter this year).
Meanwhile, LG Electronics took the second place with a market share of 15.9% (based on revenue) in the third quarter. Due to fierce competition in the OLED TV market, LG’s market share dropped slightly from 16.5% in the previous quarter. But it climbed to the second place in the premium TV market with a 23.4% market share, overtaking Sony (21.8%).
Although South Korean tech companies, including Samsung and LG, are faring well in the global TV market, Chinese companies are increasingly expanding their market share with low-priced products.
South Korean companies are expected to keep up their momentum in the fourth quarter of the year. “The gap between South Korean companies and their competitors, including Chinese firms, is likely to be remained or slightly widened in the fourth quarter with increasing sales of super-size premium TVs in North America and Europe,” said an industry insider.
Keun-Hyung Yoo firstname.lastname@example.org