White Oled TV market 2023 down compared to 2022

We anticipated this given the strong presence in stores of LG A2, LG B2, LG C2 and LB G2 televisions, i.e. 2022 models, and the number of promotions of all kinds still offered on these references at less than a month before Black Friday, the Korean brand's OLED TV sales were not all there this year.

Confirmation of the poor sales of LG Oled televisions in 2023 came directly from LG Electronics which announced a few days ago in the columns of our Korean colleague The Elec that the brand forecast for 2023 an overall figure for its Oled TV deliveries lower than that of 2022, a year already marked by a regression, due to poor global economic conditions.

LG Electronics announces 2023 Oled TV sales lower than those of 2022 The South Korean electronics company said last Friday that TV sales were sensitive to consumers' purchasing power and that the recent economic slowdown had led to a decline in demand for premium displays. As most LG Oled TVs are premium products, LG said a decline in its sales is inevitable this year. The geopolitical situation in Europe, one of its main markets for Oled televisions, with the Russo-Ukrainian war and its uncertainties is not unrelated. However, the company expects an average growth of 10% in demand for Oled TVs in 2024, based on forecasts from market research companies.

However, this is something to keep in mind that, on the one hand the Korean firm had predicted a year 2023 much better than 2022 with the result that we now know, on the other hand that the events taking place in the Middle East are not going in the direction of a real economic improvement. Worse, they could degenerate and make the situation worse.

White Oled TV market 2023 down compared to 2022 For its part, LG Display, the LG group's screen manufacturer, also declared two days earlier that it now planned to ship fewer large White Oled panels (TV market) this year, 5 million units compared to 6 .8 million units in 2022. Through this statement, it should be understood that other LG Display customers (Loewe, Panasonic, Philips, Sony, etc.), have also revised their orders for Woled (White Oled) TV panels downwards. . In short, if the TV market suffers in 2023, the White Oled TV market is strongly affected while the consensus of analysts until recently saw this segment as a refuge market via a stabilization of White Oled TV sales this year, or even an increase for some of them.

Please note, the sales figures for QD Oled televisions (panels manufactured by Samsung Display) are not yet known. The latter should, however, show significant growth; QD Oled TV references have indeed multiplied in 2023 (six compared to two in 2022 at Samsung for example). It is therefore still too early to say that the overall Oled TV market is in decline in 2023.

LG Group is doing well in 2023 Namely, the South Korean electronics manufacturer recorded 20,000 billion won in revenue (14.12 billion euros) and 996.7 billion won in operating profit (more than 705 million euros) in the third quarter, a drop of 2.2% and a jump of 33.5% respectively compared to last year. This is due to the profit of its household appliances business which doubled year on year, and a strong contribution, around 130 billion won, to the profit of its automotive solutions business.

In short, the brand still cannot recover on the television market despite its presence in the Top 3 worldwide, and losses accumulate year after year. Fortunately, the business of other LG product families is there. Hope it lasts…