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LG Display recovers world’s No. 1 position in TV display

LG Display recovers world’s No. 1 position in TV display

Posted March. 22, 2022 08:01,   

Updated March. 22, 2022 08:01


LG Display recovers the world’s No. 1 position in the market share of TV display thanks to the high sales of organic light-emitting diode (OLED).

According to Omdia, a U.K.-based market research company, on Monday, LG Display recorded a market share of 23.8 percent in TV display sales in the fourth quarter of last year, exceeding China’s BOE with 20.6 percent market share and recovering the No. 1 position. The South Korean company, which had been the top performer until the end of 2020, had been surpassed by BOE from January to September last year.

LG Display’s market share increase was led by OLED. As the sales of OLED TVs are increasing among LG Display, Sony, Panasonic, and Philips, the South Korean company is practically monopolizing the large OLED TV panel market. The company’s quarterly sales of OLED TV panels reached 2.3 million units in the fourth quarter” of last year, exceeding two million units per quarter for the first time. Its sales revenue also increased 28 percent compared to the same period last year to 1,450 million dollars. LG Display’s OLED TV panel sales in 2021 recorded 7.4 million units thanks to sales boost at the end of the year, up 65 percent from the previous year.

As the growth of OLED TVs continues in the high-end TV market, LG Display is expected to maintain its No. 1 position in the display market for TVs with a market share of 23.9 percent. BOE’s market share is expected to be 21 percent this year.

Omdia predicted the share of OLED TVs in the market of high-end TVs priced over 1,500 dollars to be 42.1 percent this year in terms of sales. The share of OLED TVs, which was around 26 percent in 2019, rose to 41 percent in the fourth quarter of last year thanks to the expanded product range with the addition of 48-inch and 88-inch models to the existing 55-inch and 65-inch models. The share is expected to increase this year.

LG Display’s panels are produced stably with 80,000 units per month in Paju, Gyeonggi Province and 90,000 units per month in Guangzhou, China, realizing the economy of scale and reducing price burden on customers. LG Display will add 42-inch and 97-inch models to its product range and supply OLED TV panels in various sizes to TV manufacturers.

Hyung-Seok Seo skytree08@donga.com