LG Electronics is enjoying an overwhelming share in the fast-growing OLED TV market which is expected to grow to 400,000 units this year.
According to DisplaySearch data, cited on July 5 by the Institute for Information & Communications Technology Promotion, the global OLED TV sales reached 35,200 units in the first quarter of this year, more than a seven-fold increase compared to 4,600 units a year ago.
DisplaySearch forecast that the global OLED TV sales would grow to 400,000 this year and 7 million by 2019. By company, LG Electronics gained an unrivaled market share of 89 percent in the first quarter of this year, with its OLED TV sales estimated at 31,200.
In a situation where the world's No. 1 TV maker Samsung Electronics and Japanese companies, including Sony, have not yet joined the market, a string of Chinese companies are chasing LG Electronics.
After Skyworth joined the market in the third quarter of last year when it sold 100 units of OLED TVs, a flurry of China's major TV makers such as Changhong, Hisense, and Konka jumped into this market in the first quarter.