The global TV market grew slightly in 2020, but LG Electronics saw its sales and shipment decline.
Market research firm Omdia said on Wednesday that 225.35 million TVs were shipped last year, a rise of 1.1% from 2019.
The COVID-19 pandemic affected sales in the first half but the market recovered in the second half.
Major TV vendors except LG Electronics saw solid results in 2020.
Samsung Electronics ranked first and shipped 49.72 million units last year, a rise of 11.8% from 2019. It saw shipment growth in all quarters except the second quarter.
The company posted sales of US$32.7 billion in 2020, a rise of 0.4% from the previous year. Sales in the first half dropped year-on-year but Samsung saw growth in the second half.
Runner-up LG Electronics shipped 26.02 million units in 2020, a decline of 4.6% from the previous year. The company’s sales was US$16.9 billion, a drop of 1% year-on-year. LG saw shipment decline in all quarters except the third quarter. Even in the fourth quarter, when there are year’s end sales event such as Black Friday, the company shipped 1.2 million less units compared to 2019.
TCL and Hisense shipped 24.22 million units and 18.19 million units, respectively, taking third and fourth places in terms of shipment. TCL’s shipment increased 18.5% from 2019 while Hisense’s jumped by 16.5%.
TCL was only 1.8 million units behind LG Electronics for second place __ in 2019, the Chinese company was behind 6.8 million units. TCL shipped more TVs than LG in the second quarter, moving 5.76 million units compared to the latter’s 4.46 million units.
TCL saw shipment growth in all quarters except the first quarter. Hisense saw growth in all quarters.
In terms of sales, Samsung ranked first in the world with a share of 31.9%, an increase of 1% from the previous year. LG ranked second.
Sony tanked third in terms of sales with US$9.3 billion. TCL and Hisense ranked fourth and fifth, respectively.
In shipment, Sony ranked sixth, behind Xiaomi which ranked fifth.
Samsung moved 7.79 million units of its QLED TV. QLED TV accounted for 35.5% of its sales. LG shipped 2.04 million units of OLED TVs, its highest ever. In the fourth quarter, LG shipped 864,000 units of OLED TVs, its quarterly record.