Global shipments of organic light-emitting diode (OLED) TVs grew 133% year-on-year in November, reaching a new monthly record of 270,000 units, according to IHS Markit.
The research firm said that the OLED sales surged as price drops meant 55-inch 4K OLED became affordable to a greater number of high-end holiday shoppers.
“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.”
In total year-on-year 55-inch OLED TV shipments rose 123% in November, while 65-inch shipments grew 157%, according to the research.
LG Electronics led overall OLED TV shipment volume in November, with a 31% month-on-month increase in shipments.
IHS noted that during the weeks surrounding Black Friday, LG dropped the price of its entry-level B7 series 55-inch and 65-inch 4K OLED TVs by US$200, pricing its lowest tier 55B7 model at US$1,499.
In contrast to the boom in OLED TV shipments, global liquid crystal display (LCD) TV shipments declined slightly in November – though they still account for the vast majority of TV sales.
LCD shipments dipped 1.6% month-on-month in November to 24.4 million units as Black Friday demand in the US declined compared to 2017, said IHS.