SEOUL, July 6 (Korea Bizwire) – As the OLED TV market is growing fast with almost 400,000 units expected to be sold this year, LG Electronics is leading the way with an overwhelming share of almost 90 percent.
According to DisplaySearch data quoted by the Institute for Information and Communications Technology Promotion on July 5, the OLED TV market grew to 35,200 units in the first quarter, more than 7 times greater than the 4,600 units sold in the same period last year, showing rapid growth in the premium TV market.
DisplaySearch expected that the OLED TV market would grow to 400,000 units this year and 7 million units in 2019.
By company, LG, pioneer of the OLED TV, showed off its overwhelming dominance by selling 31,200 units in the first quarter, for an 89 percent market share.
While, the world’s No. 1 TV maker Samsung Electronics and Japanese companies, including Sony, have not yet joined the market, several Chinese companies are chasing LG in the OLED TV market.
Among the Chinese manufacturers, Skyworth of China sold 2,300 units in the first quarter this year, followed by Hisense (1,100 units), Konka (600 units) and Changhong (100 units). Their combined market share reached double digits for the first time in the period.
The Institute for Information and Communications Technology Promotion said, “The entrance of Chinese manufacturers in the OLED TV will not threaten LG, rather they will reinforce the dominant power of LG by enlarging the OLED TV market.”
By Kevin Lee (email@example.com)