Samsung and LG’s global TV market share fell below 50% in Q2 2022: Report

Due to the shrinking global electronic equipment market, the sales of smart devices such as mobile phones, tablets, and computers all declined. At the same time, the global TV market is not optimistic. According to BUSINESSKOREA, Samsung and LG’s global TV market share is gradually declining. In the first half of this year, Samsung’s market share was 31.6%, down 1.1 percentage points from the same period a year ago. LG Electronics’ market share dropped from 18.4% to 17.6%, down 0.8 percentage points year on year.

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In the first quarter of this year, Samsung’s market share was 32.9%, and LG’s market share was 17.7%, for a combined market share of 50.6%. In the second quarter of this year, Samsung and LG’s combined market share fell below 50%. This is mainly due to declining demand in the global TV market and rising costs for TV manufacturers. In addition, Sony, which ranks third in market share, had sales of 141.8 billion yen in the second quarter of this year, a year-on-year decrease of 35.8%.

At the same time, sales of Chinese TV makers also declined. In the first half of this year, the total sales of Chinese TV manufacturers were 53.1 billion yuan, down 10.5% year-on-year. At the same time, the number of Chinese TV brands dropped from 63 to 52, a decrease of 11. Although the overall market environment is not optimistic, there are still some brands that have performed strongly. For example, Huawei, Redmi, and Hisense’s Vidda TV sales have increased.

Moreover, the source said that TV brand suppliers have lowered their panel procurement plans amid weak demand in the end market. Market data shows that according to TV brands such as Samsung Electronics, LG Electronics, TCL, Hisense, Sony, and Skyworth. According to the revised panel purchase plan, panel purchases by all TV suppliers in 2022 may decrease by about 15% from the previous year.