Korean OLED panels and OLED TVs are racking up high market shares in the Japanese market, which has a very strong preference for domestic brands.
LG Electronics recorded a 7.4 percent share in the OLED TV market in Japan in the second quarter. Its share was lower than Japanese brands Sony (35.2 percent), Panasonic (26.3 percent), Sharp (17.1 percent), yet it managed to make it to the top-five club, while fiercely competing neck and neck with China’s HiSense (11.2 percent).
LG Electronics’ market share fell from 9.9 percent in 2019 and 8.0 percent in 2020, but sales and shipments of its OLED TVs are rapidly growing as the Japanese OLED TV market is expanding. Market research firm Omdia is predicting that 709,000 OLED TVs will be shipped to the Japanese market in 2021, more than double the 349,000 units shipped in 2019.
“We have focused on promoting 48-inch OLED TVs in Japan, considering the relatively small living rooms of common Japanese houses. This strategy paid off,” an LG Electronics official said. “About 21.5 percent of the company’s global sales of 48-inch OLED TVs were sold in Japan.”
Korean OLED panels are enjoying a high market share in Japan. Major Japanese TV companies such as Sony, Panasonic and Sharp are all receiving panels from LG Display.
LG Display is planning to actively penetrate the market by informing TV makers of the fact that it is the only company that can produce large OLED panels for TVs. In particular, as OLED TVs account for 91.5 percent of the Japanese market for premium TVs worth more than US$2,000, LG Display’s market share is expected to continue at the current level. Business Korea