LG Electronics Dominates the OLED TV Market with Unrivaled Innovation

Posted on June 6, 2023 by Design in Design Innovation | 0 Comments

LG Electronics has achieved a remarkable milestone by commanding 60 percent of the OLED TV market in the first quarter of 2023, according to the latest market research from Omdia. With its commitment to excellence and relentless pursuit of customer experience innovation, LG has become the preferred choice in the premium TV segment. This article explores LG’s achievements, its market dominance, and the future of OLED TVs.

LG’s OLED TVs have gained popularity worldwide due to their unrivaled contrast, delivering perfect blacks and true-to-life colors. The thinness and flexibility of LG OLED TVs have also contributed to their growing demand. These TVs offer an unparalleled viewing experience, providing exceptional picture quality and immersion.

Last year, LG surpassed an impressive milestone by shipping over 15 million units of OLED TVs since their initial launch in 2013. This achievement solidified LG as the first OLED TV maker to reach such a significant milestone. In the first quarter of 2023, LG accounted for over 70 percent of the market for ultra-large OLED TVs, further establishing its dominance in the premium TV segment.

LG’s commitment to innovation is evident in its solutions for ultra-large OLED TVs. The company introduced the 97-inch LG SIGNATURE OLED M (model M3), which is the world’s first consumer TV with a wireless solution capable of real-time video and audio transmission at up to 4K 120Hz. By offering industry-leading solutions, LG reinforces its position as a leader in the ultra-large premium TV segment.

In the first quarter of 2023, LG held a 17.1 percent share of the global TV market by revenue. While the overall global TV market experienced a decline in shipments, LG’s OLED TV sales remained strong, representing more than 30 percent of the company’s total TV sales. Despite a slight decrease in LG’s share of the global TV market, the OLED TV segment is projected to grow. Omdia predicts that OLED TVs will capture 46.1 percent of the premium TV market by revenue by the end of the year, a significant increase from 2022.

LG offers a diverse lineup of OLED TVs, catering to various consumer preferences. With screen sizes ranging from 42 to 97 inches, and options for 8K and 4K resolution, LG provides customers with a wide range of choices. The company’s OLED TVs boast convenient features and image-enhancing technologies, ensuring an immersive viewing experience. LG’s premium OLED TV lineup also includes the LG OLED Evo series, which offers brighter and more lifelike images. Furthermore, the LG Lifestyle Screens combine stunning picture quality with distinctive designs, adding elegance to any living space.

LG OLED TVs have received numerous accolades, including consecutive CES Innovation Awards for 11 years. They have been praised as “the best TV of the year” by major publications, earning a reputation as the pinnacle of TV technology.

LG has dedicated the past decade to realizing the immense potential of OLED technology. Building on its achievements, the company will continue to innovate and create in the coming years, exploring the limitless possibilities offered by self-lit technology to deliver even greater value to customers.

Read: The Samsung 98-inch Neo QLED TV is Now Available in Kenya for Ksh 1.4 Million