Samsung Electronics has once again demonstrated its dominance in the global TV market, marking an unprecedented 18-year streak at the forefront of the industry.
Market research firm Omdia reported that Samsung has achieved a 30.1% share of the global TV market in 2023, reinforcing its status as the industry leader since 2006. This success is largely due to the company’s strategic focus on premium and large-screen TV categories, driven by its cutting-edge QLED and OLED models.
Since its launch in 2017, Samsung’s QLED TV lineup, including the latest Neo QLED models, has surpassed cumulative sales of 40 million units. In 2023 alone, the QLED lineup achieved sales of 8.31 million units. Kenyans are enjoying the unrivaled picture quality and sound excellence of the Neo QLED TV lineup launched locally in 2022.
Rahul Kochhar, Senior Business Leader, Consumer Electronics, Samsung Electronics East Africa Ltd said: “As we celebrate Samsung’s remarkable 18-year streak as the global TV market leader, I am proud to be part of a team that consistently pushes boundaries. Our commitment to cutting-edge QLED and OLED models has been instrumental in maintaining our unrivaled position. We look forward to delivering even more exceptional experiences to our customers.”
Samsung asserted notable leadership in the premium TV sector – specifically for TVs over 75 inches and priced above $2,500 (Approximately KES 365,000). The company has recorded an impressive 60.5% market share in terms of sales for TVs priced over $2,500, while also maintaining a lead with 33.9% sales share for TVs over 75 inches. In addition, thanks to robust sales of 98-inch models, TVs over the 90-inch have maintained the lead with a 30.4% market share.
Samsung has also made significant strides in the OLED sector, building on its success in the ultra-large and high-end TV market. The company’s OLED TV lineup recorded 1.01 million units sold in 2023, capturing a market share of 22.7%. With the expanded OLED lineup in 2024, Samsung’s market share in the OLED sector is projected to surge in 2024.
“We are proud to be recognized as the market leader in the global TV sector for 18 consecutive years, a testament to the enduring trust and loyalty our customers place in Samsung,” stated SW Yong, President and Head of Visual Display Business at Samsung Electronics. “We are deeply committed to advancing the industry, moving beyond exceptional picture quality to offer more meaningful and valuable experiences.”
At CES 2024, Samsung Electronics unveiled the groundbreaking NQ8 AI Gen3 processor, heralding the start of the AI Screen Era. The advancement in state-of-the-art chipsets and capabilities is set to redefine the smart TV domain, integrating sophisticated AI powered by Tizen OS to establish AI screens as the center of smart home innovation.
2024 is shaping up to be another year of significant innovation for Samsung. With advancements in processors and cutting-edge AI features, Samsung is on course to further transform home entertainment and set new benchmarks in the TV industry.
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