With consumer television prices falling, global shipments of organic light-emitting diode (OLED) TVs grew 133 percent year over year, reaching a new monthly record of 270,000 units in November 2017, during the lead-up to the holiday shopping season.
This growth comes as falling prices placed 55-inch 4K OLED into the budget range of a greater number of high-end holiday shoppers, according to IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions.
Overall global liquid crystal display (LCD) TV shipments in November slightly declined by 1.6 percent month over month, falling to 24.4 million units, as Black Friday demand in the United States declined in 2017 compared to the prior year. Total OLED TV shipments from January through November 2017 surpassed 1.3 million units. Together with December estimates, overall OLED TV shipments are likely to exceed 1.4 million units shipped in 2017.
“In 2017, the landscape for OLED TV brands changed as Sony, Toshiba and other major brands began selling OLED TVs,” said Ken Park, associate director, IHS Markit.
“The growing number of available OLED TV choices, especially high-profile Japanese and European brands, has resulted in more competition and pricing promotion activity in the OLED TV market.”
LG Electronics (LGE) dominated the OLED TV market in 2016, accounting for around 92 percent of all units shipped, while several Chinese brands accounted for most of the remaining shipments. During the weeks surrounding Black Friday 2017, LGE dropped the price of its entry-level B7 series 55-inch and 65-inch 4K OLED TVs by $200, pricing its lowest tier 55B7 model at $1,499.
LGE led overall OLED TV shipment volume in November, with a 31% month-over-month increase in shipments. Total year-over-year 55-inch OLED TV shipments rose 123% in November, while 65-inch shipments grew 157%.