Oled TV market 2022, focus on the drop in sales

The OLED TV market in 2022 faces strong headwinds. Oled TV shipments from the leader in this sector, LG Electronics, are expected to fall by 2.7% and the other brands are also hit hard. Focus on a struggling market segment.

You are very (very!) numerous to react and to question us after the publication of our news yesterday entitled LG Display, punctual stoppage of Oled TV production due to the drop in sales.

Oled TV market, zoom on LG and Sony

To clarify the situation, answer your questions and contextualize our recent news on the OLED market, the editorial staff of publishes the figures observed and forecast by the research and analysis firm TrendForce on the subject.

In 2022, the LG Electronics and Sony brands will have represented just over 80% of the OLED TV market. Looking at the figures in detail, LG claims a market share of 61%, 21% for Sony. Still in 2022, LG Electronics achieved lower sales than in 2021 in Europe and the results in North America again did not meet expectations. In the end, for the first time since the emergence of the Oled TV market, LG Electronics Oled TV shipments will have fallen 2.7% year-on-year to just 4.04 million units.

Oled TV market, zoom on Panasonic and Philips

In 2022, following the war in Ukraine and the associated high inflation, consumers on the old continent quickly (from the first quarter) showed themselves to be very wait-and-see in terms of screen purchases. Among other consequences, LG Electronics continued its promotions strategy in the second quarter of 2022, with the direct impact of the drop in sales of the other OLED TV brands. Philips and Panasonic, for example, saw their European shipments decline from the second quarter of 2022 while in 2021 Europe accounted for more than 60% of their annual shipments. Compared to the year 2022, Philips and Panasonic branded OLED TV shipments in 2022 are forecast to decline by 9.1% and 23.3% respectively.

Oled TV market, price differential in favor of the LCD panel

To top it off, in view of an overly abundant LCD supply from China, the price gap between 55'' Ultra HD OLED and UHD LCD TV panels has once again widened significantly, from a multiple of x1.8 to x5 over a year. The price difference leaving the factory is partly found in stores with LCD TVs displayed at prices significantly lower than those of OLED TVs. This price differential is also one of the reasons for the drop in Oled TV sales.