South Korea’s Samsung Electronics Co. continues to prove its reign in the global television market as it took the top spot for 13 straight years, thanks largely to its shift toward larger and premium products with expensive price tags.
According to global market research firm IHS Markit on Sunday, the Korean tech giant claimed a 29 percent share in the global TV market in terms of sales last year.
Since Samsung Electronics ranked first in the global TV market with a 14.6 percent share in 2006 for the first time, it has maintained its leadership.
The latest performance was largely driven by its unrivaled standing in the premium segment. In the ultra-large TV segment of over 75 inches in size, the company commanded 54.4 percent and stood at 44.3 percent for TVs that cost more than $2,500 over the same period.
The average size of TV sets sold by Samsung Electronics last year was 46.8 inches. Products of over 50 inches accounted for almost half of its total shipments, and their portion is on the increase.
The total TV screen size from Samsung Electronics’ shipment last year is converted to about 30 square kilometers, 10 times the area of Seoul’s Yeouido district, the country’s main financial district crowded with a majority of the country’s tallest skyscrapers.
Samsung Electronics plans to further strengthen its market leadership in the ultra-size and premium sector this year by introducing a new 98-inch QLED 8K TV and filling more than half of its lineup with products of over 75 inches.
Samsung Electronics has fame for its many world firsts based on its advanced technology in the TV market. They include crystal wine glass-inspired LCD TV, Chrystal Rose TV with new materials (2008), LED TV (2009) which was the game changer in the LCD TV market, Curved UHD TV (2014) that has tested TV form factors, cadmium-free quantum dot-display (QLED) TV (2015) and QLED 8K TV (2018).―Pulse News