By BizLED Bureau
October 3, 2015: Sales of OLED TVs soared by 317% to 75,600 sets during the first half of 2015, says an IHS iSuppli report. This figure is more by 18,000 TVs that were sold throughout 2014.
Industry experts had projected that OLED sales will rise during 2015 as demand for smartphone OLED panel increased significantly.
However, although OLED TV sales grew significantly, prices of OLED TVs did not drop.
It is reported that the cutthroat competition in the LCD panel market, and the oversupply of LCD panels forced large Korean manufacturers like Samsung and LG to focus on OLED technology as a strategy to stay ahead of the competition. Initially, only LG Electronics was into OLED TV manufacturing, and had 100% market share. LG TVs accounted for 90% of OLED TV sales during first half of 2015. However, some Chinese competitors entered the market. Some of these Chinese manufacturers include Changhong, Skyworth, Haier Group and Hisense.
Global LCD panel sales has been projected to decline 2% to US $12.90 billion in 2015, according to IHS report. This gap is being fulfilled by the growth of the OLED panel industry. Its revenue growth is expected to increase by 36% to US $11.8 billion in 2015.