South Korean LG OLED TVS accelerate 'expansion' in Japan

[Adney]

Despite Japan's strong preference for local brands, South Korean OLED panels and OLED TVS still hold a high market share in the Japanese market, According to South Korean media.

According to businesskorea, LG electronics' market share in the Japanese OLED TV market was 7.4 percent in the second quarter, which was lower than SONY (35.2 percent), Panasonic (26.3 percent), and sharp (17.1 percent), but it managed to rank among the top five. It also competes with Hisense of China (11.2 percent).

 

[Adney]

LG Electronics' market share is down from 9.9% in 2019 and 8.0% in 2020, but its OLED TV sales and shipments are growing rapidly as the Japanese OLED TV market expands. Market research firm Omdia expects OLED TV shipments in Japan to more than double to 709,000 units in 2021 from 349,000 units in 2019.

"We have been working to promote 48-inch OLED TVS in Japan, given the relatively small living room of the average house," an LG Electronics executive said. The strategy paid off, with Japan accounting for 21.5 percent of total global sales of 48-inch OLED TVS.

In addition, Korean OLED panels have a high market share in Japan, where LG Display's panels are used by major Japanese TV companies such as SONY, Panasonic and Sharp.