Global OLED TV shipment has topped milestone of 10 million units in September with sales led by the panel pioneer South Korean TV giant LG Electronics Inc.

According to a report by market research firm Omdia, cumulative global shipments of OLED TVs have reached 10.32 million units at the end of September. It is the first time for global OLED TV shipment to top 10 million since LG Electronics introduced the world’s first OLED TV in 2013. The Korean electronics maker expects OLED TV sales figure to hit a new milestone of 7 million units in the fourth quarter.

Industry experts anticipate the fourth quarter to become a turning point for OLED TV makers pitted against QLED TVs in the premium category. QLED technology, a variation of LED LCD with an addition of quantum dot film for premium picture quality, is led by another Korean electronics giant Samsung Electronics Co.

In the fourth quarter, LG Display, screen panel making affiliate of LG Electronics, will start full commercial production of 8.5-generation OLED panels at its Guangzhou factory in China, which would allow global OLED TV makers to keep marketing efforts in full swing.

The research firm estimated global OLED TV shipment to reach 1.2 million units in the fourth quarter, up 30 percent compared to the same quarter last year. It also expected OLED TV demand to stay strong, with worldwide shipment projected at 1.04 million units in the first quarter 2021.

Global OLED TV shipment is estimated at 3.3 million units for full 2020, up 10 percent from the previous year. The volume is expected to top 9 million units by 2024.

OLED TVs accounted for 33.6 percent of global TVs sales in the premium category with a price tag of $2,000 or higher, as of the second quarter this year.

The number of OLED TVs makers has grown rapidly to reach 19 this year, with one more to join next year. Seven years ago, LG Electronics was the sole OLED TV producer.

LG Electronics has been striving to foster OLED as the mainstream technology of premium TV market. It introduced world’s first 8K OLED TV, a premium model with resolution of 7,680 horizontal pixels by 4,320 vertical pixels, and 48-inch 4K model this year. Also, it is preparing to launch rollable OLED TV this month.

By Chun Gyung-woon and Cho Jeehyun

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