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Japanese Continue to Buy OLED TVs
 
LG’s OLED panels and OLED TVs are increasing in market share in the Japanese market, which has a very strong preference for domestic brands. LG Electronics recorded a 7.4 percent share in the OLED TV market in Japan in the second quarter. Its share was lower than Japanese brands Sony (35.2 percent), Panasonic (26.3 percent) and Sharp (17.1 percent), but was in the top-five club, as HiSense reached 11.2 percent.  LG Electronics’ market share fell from 9.9 percent in 2019 and 8.0 percent in 2020, but sales and shipments of its OLED TVs are rapidly growing as the Japanese OLED TV market is expanding. Omdia is predicting that 709,000 OLED TVs will be shipped to the Japanese market in 2021, vs. 349,000 units shipped in 2019.
"We have focused on promoting 48-inch OLED TVs in Japan, considering the relatively small living rooms of common Japanese houses. This strategy paid off,” an LG Electronics official said. “About 21.5 percent of the company’s global sales of 48-inch OLED TVs were sold in Japan." OLED TVs account for 91.5 percent of the Japanese market for premium TVs worth more than US$2,000, LG Display's market share is expected to continue at the current level.