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Samsung Leads Global TV Market With 33.1% Share In Third Quarter 2020

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Samsung Electronics Co. remained the world’s leading TV vendor in the third quarter of the year, a report showed on Wednesday, as it accounted for one-third of the market amid the pandemic. According to data from industry researcher Omdia, the South Korea tech giant had an all-time high of 33.1 percent market share in the global TV market in the July-September period in terms of revenue, according to the report.

Samsung sold $9.3 billion worth of TVs in the third quarter, up 22 percent from a year earlier, the data showed. The company was also the leader in terms of sales volume after shipping 14.85 million TVs for a 23.6 percent share.

Even as the COVID-19 pandemic continues around the world, the reopening of key economies led to a significant increase in consumer demand. Samsung was able to respond aggressively through flexible global supply chain management, reporting its highest-ever quarterly revenue.

The global TV market grew 11.8 percent on-year to $28.1 billion in the third quarter. In terms of volume, worldwide TV sales reached 62.87 million units over the same period, up 14.7 percent from a year ago.

Samsung’s domestic rival, LG Electronics Inc., was the runner-up in the third-quarter TV market with a 16.6 percent share in sales revenue, followed by Japan’s Sony Corp. with a 10.1 percent share, the data showed.

LG was also the No. 2 player in terms of shipments with an 11.6 percent share, followed by Chinese electronics giant TCL with a 10.9 percent share and Hisense with a nine percent share. Industry insiders said robust sales of QLED and large TVs have boosted Samsung’s presence in the market amid the pandemic. According to Omdia, Samsung sold 2.33 million QLED TVs in the third quarter, more than double the 1.16 million units a year earlier.

Samsung also accounted for 53.5 percent of 80-inch or larger TVs sold in the third quarter in terms of sales value, the data showed. Sony came in second with a 21.5 percent share, while LG had a 14.1 percent share in the segment.

Omdia predicted that Samsung’s TV sales reached 48.8 million units for the year, its largest yearly sales volume since 2014 when the company sold 52.94 million TVs. Samsung has sold 33.92 million TVs through the third quarter of the year, the data showed.

Meanwhile, the OLED TV market, led by LG, grew 39.8 percent on-year to 9,30,000 units in the third quarter. Of them, LG sold 5,00,000 units followed by Sony with 23,000 units, Omdia said. The global OLED TV sales in the first nine months of the year stood at 2.12 million units, far behind QLED TV sales of 5.98 million units in the same period, the data showed.

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