- Samsung maintains its global TV market lead despite shipment decline.
- European dominance: Samsung holds a 60.7% market share.
- Q1 growth: Samsung’s QLED models are up 13%, premium TV market share grows 9.9%.
Although smartphone shipments have declined due to economic uncertainties, Samsung’s smart TV market has also experienced a similar trend in the first quarter of this year.
Recent market reports suggest that Samsung shipped over 46.25 million TV units globally during Q1 2023, marking the lowest Q1 shipment figure for the company since 2009.
However, despite the decline in global shipments, Samsung seems to be well on its way to maintaining its position as the global TV market leader for the 18th consecutive year. This data indicates that while Samsung’s shipments may have decreased, the competition’s shipments have also seen a decline. In other words, Samsung’s shipments have not dropped significantly enough to jeopardize its position as the market leader. Experts in the industry, such as Omdia, predict that the TV market will recover in the second half of 2023.
Samsung holds a significant market share in both Europe and the USA. During the January-March period, Samsung’s global TV market share reached 32.1%. LG Electronics emerged as the second-largest brand with a market share of 17.1%, followed by TCL with 9.9% of the global market.
In Europe, Samsung dominates with a massive market share of 60.7%. Similarly, in the USA, Samsung accounted for 52.6% of the TV market during Q1.
When considering specific TV models, Samsung’s 80-inch-and-larger TVs held a market share of 43.9%, while its QLED models experienced a year-on-year increase of 13%, capturing a market share of 57.5%. Additionally, Samsung’s premium TV market share in Q1 grew by 9.9% compared to the first quarter of 2022.