OLED TV Gains Popularity with Cost Reduction and Expanded Models
Once dubbed the dream TV and considered a super-premium product, the popularity of Organic Light Emitting Diode (OLED) TVs is accelerating. This surge is attributed to cost reductions achieved through production innovations and yield improvements, as well as the expansion of more affordable models. Samsung Display and LG Display are strengthening their two-track strategy, simultaneously expanding their super-premium offerings alongside more budget-friendly options, aiming to distance themselves from competition with Chinese manufacturers.
According to global research firm Omdia, the revenue share of OLED TVs priced over $750 (approximately 1.08 million KRW) is expected to reach 29.9% this year, up from 25.1% last year, marking an all-time high. Conversely, the market share of LCD TVs is predicted to drop from 74.9% in 2024 to 70.1% this year.
The price range over $750 sees competition between premium LCD TVs, such as Mini LED models, and budget-friendly OLED TV options. While Samsung and LG are actively increasing their OLED market share annually, the market share of Chinese companies like BOE and China Star, which focus on premium LCD TVs, is declining. Omdia forecasts that by next year, the OLED TV market share will expand to 32.7%, while LCD TV share is expected to fall below 60% for the first time.
Historically, OLED TVs faced criticism for their high prices, limited lifespan, and issues like burn-in, which made them less accessible compared to cheaper Chinese LCD options. However, industry analysts attribute the growing accessibility of OLED TVs to Samsung and LGs advancements in new processes and technologies that maximize production efficiency, as well as the launch of budget-friendly OLED models priced around 1 million KRW. Examples include LGs B series and Samsungs SF85.
The shift in consumer preference towards OLED technology highlights a significant transformation in the television market, driven by both innovation and strategic pricing. As manufacturers continue to refine their offerings and expand the market, OLED TVs are poised to become a more common choice among consumers, further reshaping the competitive landscape against traditional LCD TVs.
According to global research firm Omdia, the revenue share of OLED TVs priced over $750 (approximately 1.08 million KRW) is expected to reach 29.9% this year, up from 25.1% last year, marking an all-time high. Conversely, the market share of LCD TVs is predicted to drop from 74.9% in 2024 to 70.1% this year.
The price range over $750 sees competition between premium LCD TVs, such as Mini LED models, and budget-friendly OLED TV options. While Samsung and LG are actively increasing their OLED market share annually, the market share of Chinese companies like BOE and China Star, which focus on premium LCD TVs, is declining. Omdia forecasts that by next year, the OLED TV market share will expand to 32.7%, while LCD TV share is expected to fall below 60% for the first time.
Historically, OLED TVs faced criticism for their high prices, limited lifespan, and issues like burn-in, which made them less accessible compared to cheaper Chinese LCD options. However, industry analysts attribute the growing accessibility of OLED TVs to Samsung and LGs advancements in new processes and technologies that maximize production efficiency, as well as the launch of budget-friendly OLED models priced around 1 million KRW. Examples include LGs B series and Samsungs SF85.
The shift in consumer preference towards OLED technology highlights a significant transformation in the television market, driven by both innovation and strategic pricing. As manufacturers continue to refine their offerings and expand the market, OLED TVs are poised to become a more common choice among consumers, further reshaping the competitive landscape against traditional LCD TVs.
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