Samsung entered the OLED TV market quite late. Despite being a decade late to the market, Samsung is quickly climbing the ranks. The company expanded its OLED TV lineup this year and plans to translate that into higher sales. Earlier today, Samsung held the ‘Unbox and Explore 2024’ launch event ahead of the launch of its 2024 TV series in South Korea. During the event, the head of Samsung’s TV business unit said that its market share in South Korea’s OLED TV market is almost the same as rival LG. Samsung has a 23 percent revenue share in the global OLED TV market and plans to close this gap in 2024.
Samsung announces OLED TV plans
Yong Seok-woo, President and Head of Visual Display Business of Samsung Electronics, said, “In the past two years, our OLED TVs have experienced rapid growth, and our market share has increased to almost 23 percent. Our expanded OLED TV range for this year will help us close the gap in the market. The market share of our 77-inch OLED TVs has grown to almost match our competitors in the Korean market. “We will continue to prioritize premium, widescreen OLED TVs to expand our share.” said.
In the past two years, Samsung sold over two million OLED TVs, while LG sold over three million OLED TVs last year. If you average these numbers, LG sells three times as many OLED TVs as Samsung. But this year Samsung has added more models and sizes to its OLED TV lineup, and buyers now have more options. Given Samsung’s brand awareness, more people are likely to purchase OLED TVs from the company.