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Samsung and LG dominate LCD TV shipments for 2014

The two Korean companies top global rankings with a combined market share of nearly 38 percent.

LG's newest 4K Quantum Dot-equipped TV. LG

2014 was a prolific year for Samsung and LG, as the Korean LCD TV makers racked up 22.8 percent and 14.9 percent of the world market share of shipments respectively, according to a report from research firm Witsview.

Both companies increased the number of units from the previous year, with Samsung boosting shipments by 14.5 percent, while LG did slightly better at 14.7 percent.

LCD TV shipments as a whole grew by 5.4 percent in 2014, with a total of 215 million units moved, thanks in large part to North America's economic recovery and demand for newer sets to replace older TVs and plasma displays.

Sony placed third with 14.6 million units shipped (6.8 percent), up from fourth in 2013, while the rest of the top 10 is largely occupied by Chinese manufacturers such as TCL, Hisense, Skyworth and Konka. The only non-Asian company featured in the rankings was Irvine, Calif.-based Vizio, with 3.5 percent market share, enough to take eighth place. Japan's Sharp languishes in 10th with 3.4 percent.

"The Chinese brands are facing saturation of the domestic market and persistent challenges from major international brands abroad, but their momentums have been overwhelming," noted Witsview's research manager KK Chang in the report.

At the Consumer Electronics Show in January, both Samsung and LG announced their customary raft of new TVs, with Samsung betting big on its new SUHD ( S doesn't stand for Super, remember ) system and Quantum Dot technology as well as full-array local dimming for its flagship JS9500 series .

The company has faced controversy in the last week as it emerged its Smart TV voice-recognition software was passing conversations onto third parties, while in Australia it embedded ads for Pepsi in video streaming apps.

LG is sticking with 4K OLED, meanwhile, with an emphasis on improving HDR content. This gives better contrast -- dark blacks and bright whites -- for your viewing pleasure. The company even has a TV that can either be flat or curved .

To find out more about upcoming TV trends, be sure to check out our forward-looking CES TV roundup over here.

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