Samsung tops global TV market for 16th straight year

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SEOUL, Feb. 21 (UPI) — Samsung Electronics topped the world’s 2021 TV market for the 16th consecutive year, according to London-based consultancy Omdia.

Samsung’s market share decreased slightly from 31.9% in 2020 to 29.5% in 2021 in terms of sales revenue, Omdia announced Sunday, but the figure was high enough to beat its competitors.

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In particular, the tech giant dominated the premium market for TVs larger than 80 inches, with a share of 44.9 percent.

Samsung said its strategy of focusing on high-end products like QLED TVs has worked.

Its cross-city Seoul rival LG Electronics ranked second with its largest-ever market share of 18.5%, followed by Japan’s Sony with 9.5%. Also included in the Top 5 list were China’s TCL and Hisense.

LG Electronics’ strength rests on OLED TVs, as the company doubled the shipment of the premium TV sets from 2 million in 2020 to 4 million last year.

When it came to the market share in terms of sales volume last year, Samsung Electronics accounted for 19.8%, while LG Electronics carved out 12.8%.

“Currently, Samsung Electronics concentrates on QLED TVs, while LG Electronics bets on OLED TVs to compete in the upscale market,” HMC Investment & Securities analyst Cho Jun-woo told UPI News Korea.

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“The market is expected to be more interesting this year as Samsung Electronics is set to introduce a new technology, while LG Electronics is trying to upgrade its OLED TVs,” he said.

QLED TVs use quantum dots to come up with a broad color spectrum, while OLED TVs have pixels that work independently without using a backlight.