The market for LG OLED TVs in sizes under 48 inches is growing rapidly, driven by an exponential increase in the number of users gamers and even demand for televisions for secondary rooms. And LG has seen a vein, along with his commitment to large diagonalsoriented more towards home cinema use.
Sales of TVs in the 40-42-inch range are on the rise, according to the outlet Business Korea. Until now, screen sizes have gotten bigger and bigger as people demanded more and more cinema-oriented TVs. However, at the same time as this growth, an opposite trend is taking place. That is to say: people demand very large or small sizes, but not in between.
LG bets on small OLED televisions: 42 inches will be a reality in 2022
Sales of OLED TVs in the 40-42-inch range totaled 949,000 units in 2021, according to Odyssey, a Smart TV market research firm. The figure stood at 167,000 units in 2020, the first year 40-inch TVs first appeared, but their market size has more than tripled in a year. Omdia expects sales of 40-inch TVs to reach the 1152000 units this year. Incredible growth.
Industry experts cite the increase in the number of gamers as the main reason of the expansion of this segment. This user profile requires two things: 4K resolution with HDR and low input lag when it comes to video games. OLED TVs fill this need. But the size of their screens was generally too large to fit on desktops. Since gamers watch screens from a short distance, they needed premium TVs that were smaller in size.
Another reason is that the demand for second televisions for private spaces such as studies, bedrooms or bedrooms increased as the time people spent at home increased due to the COVID-19 pandemic.
LG Electronics, which already accounts for more than 60 percent of the global OLED TV market, he smelled the toast and has moved tab quickly. The company will launch a smallest 42-inch OLED TV model in 2022 after launching a 48-inch OLED TV model in 2021. This new model, the LG C2, will thus become the smallest OLED TV in the world. In fact, it can already be booked (pre-order) on various sites in the United Kingdom, with a high market demand.
Following in the footsteps of LG Electronics, other manufacturers such as Sony, Philips, Panasonic and Hisense are also going to launch 48-inch or even smaller OLED TV models. As more companies join in launching small-sized Smart TVs, LG Display’s sales of OLED panels increase, as it is the only manufacturer in the world in these diagonals. From 210,000 units in 2020 to 1.4 million units in 48-inch and 600,000 units in 42 inches in 2022.
Omdia also forecast that LG Display’s total sales of OLED TV panels in the 40-inch range will increase about 10 times in two yearsas sales of 48-inch OLED panels and 42-inch OLED panels will grow tenfold up to a total of two million units in 2022 from 210,000 units in 2020. It also predicted that they will rise to 2.6 million units in 2023 and 2.9 million units in 2025.
In any case, we are facing a duality of the market. On the one hand, sales of large diagonals (77 inches or more) increase, while on the other the sector of 42 inches or less also grows. All that cake is left exclusively to LG Displays, which has been able to read the market and its needs like no other brand has been able to do.