Watch out, LG — Samsung now owns nearly a quarter of the OLED TV market

Samsung is no stranger to market dominance. Its delivering upon several of the most sought-after displays is highlighted in a new post denoting as much as a 22.7% hold over the OLED TV market in addition to 1.01 million units sold in 2023.

The tech conglomerate announced the news in a blog post with all included market research coming out of Omdia. Most of the Samsung OLED TV sets purchased over the course of 2023 consisted of QD-OLEDs, while only a limited number of WOLEDs were scooped up.

On the heels of publishing this report, Samsung is set to debut several new TVs and TV technology at the Tech Seminar in Frankfurt, Germany this Thursday. Most exciting is the company’s forthcoming AI upgrades on its 2024 TV lineup, which the firm claims is aimed to expand upon deeper personalization insights and improved image quality.

Samsung’s TV empire grows

Samsung has yet to slow down in its continued market dominance. Despite seeing some competition in the form of budget TV makers Hisense and TCL last year, Samsung isn’t wavering with a purported 30.1% share of the global TV market as of 2023.

The TV manufacturer stakes its claim, denoting how it remains the leading TV brand now going 18 years strong. It cites the release of 2017’s Neo QLED lineup as being the catalyst for its continued success, now far surpassing 40M units in sales, with 2023 capturing 8.31M TVs alone.

As for the OLED side of things, Samsung sold 1.01M units and now corrals a 22.7% grip over the OLED TV market. It’s setting its sights on even more glory this year, projecting its hold over the OLED TV market will “surge in 2024” via new software upgrades, like the recent announcement of 360 audio, and forthcoming TV models.

“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. We are deeply committed to advancing the industry, moving beyond exceptional picture quality to offer more meaningful and valuable experiences.”
SW Yong, President at Samsung

This projection on Samsung’s part is pushed in the face of a potential TV sales drought this year. According to Statista, the annual growth rate for global TV market revenue is slated to see a potential decline of as much as -0.24%. Though, with Samsung, anything is possible.

To amplify its market share come 2024, Samsung is set to announce a broad range of AI TV software upgrades at its latest Tech Seminar, which is to be held this Thursday. These enhancements, made possible by the new NQ8 AI Gen3 processor, will extract better image quality for its 2024 TVs, as well as inject improved personalized experiences that will give its lineup a slight edge over the competition.

As one of the leading makers of some of the best TVs in the space, Samsung consistently proves its innovation chops and could bring further exciting products to the fold. We’ll have to wait until late March or early April before setting sights on its 2024 TV models, but in the meantime it can’t hurt to give the Samsung Q70T OLED a try.