LG Electronics ships out over 10 million OLED TVs since 2013

Market data showed Friday that LG Electronics has shipped out over 10 million of its premium OLED TV shipments since the launch in 2013, doubling from just a year ago amid a rapidly expanding market.

The Korean TV maker shipped 899,000 TVs in the third quarter, a sharp rise by 80 percent on-year, and the most in a quarter, according to the data from market analysis company Omdia.

LG said it expects this year’s total number of OLED TV shipments to surpass 4 million, double that of last year. 

In recent years, the company saw its OLED TV shipments grow at a face pace. It took less than two years for the company to reach an accumulated 10 million units in shipments since reaching 5 million in 2020.

LG’s OLED TV, part of the company’s high-end range of products, comes in at an average price of $1,863.5 in the global market, three times higher than the average for LCD TVs at $643.5. 

According to the company, LG Electronics has a 60 percent market share by sales in the global OLED TV market, which consists of some 20 players. 

With the TV market expected to enjoy a boom toward the year’s end, the world’s overall OLED TV market is forecast to exceed 2 million units in sales for the first time, LG said.

According to Omdia, the global OLED TV market will grow 80 percent to reach 6.5 million in the number of sales, while the overall TV market is expected to reduce in size.

By Kim Da-sol (ddd@heraldcorp.com)