Samsung has been the leader of the global TV market for fourteen years in a row. According to a new report, the company topped the television market once again during Q3 2020. Going by the recent numbers, Samsung has captured one-third of the global TV market in terms of revenue share.
Industry researcher Omdia’s new report says that Samsung’s share in the global TV market was 23.6% during Q3 2020, while its revenue share was 33.1%. The company managed to ship 14.85 million TVs in the quarter and earned $9.3 billion. Compared to the numbers from Q3 2019, Samsung’s revenue took a 22% jump. The company saw robust sales of QLED TVs during the pandemic. Moreover, its market share was 53.5% in the 80-inch and higher segment.
Samsung’s QLED TV sales surged during the pandemic
The company sold around 2.33 million QLED TVs in Q3 2020, more than twice its shipment numbers from Q3 2019. Samsung’s TV sales have reached 33.92 million units in 2020. The company’s total TV shipments are predicted to reach 48.8 million units for the year, which would be its largest sales volume since 2014. In 2014, the South Korean tech giant had sold a whopping 52.94 million units.
Rival firm LG’s market share was 11.6% in terms of shipments, while its revenue share stood at 16.6%. TCL was the third-biggest TV brand globally in terms of unit sales, and it managed to capture a 10.9% share of the market. Hisense came in at the fourth position, capturing a 9% share of the market. In terms of revenue share, Sony was the third-biggest brand with a share of 10.1%.
According to the report, the OLED TV market saw a huge jump of 39.8% to 930,000 units during the third quarter of this year. Of all the OLED TV sales, LG sold 500,000 units, while Sony sold 23,000 units. During the first nine months of this year, 5.98 million QLED TVs and 2.12 million OLED TVs were sold.
Samsung Display is in the process of switching to the QD-OLED technology next year, and it has decided to invest around $11.7 billion for this transition. However, Samsung Electronics (which actually sells the TVs) is yet to decide if it wants to stick with the QLED technology or move to QD-OLED or microLED technology.