Korean Company Samsung has become the #1 global TV supplier. The mantle was previously owned by Sony.

Samsung Electronics has overtook the struggling Sony Corporation as the leading global supplier of TVs on a revenue basis in the second quarter, according to market research firm DisplaySearch.

Samsung captured 9.9 percent of total TV market sales of $17.3 billion, up from 8.2 percent the previous quarter, while Panasonic was runner-up with a 9.7 percent share. Longtime leader Sony saw its market share decline from 11.6 to 8.8 percent sequentially, falling into third place.

On a unit basis, Samsung captured 9.0 percent of sales, runner up behind Korean rival LG Electronics whose share was 9.8 percent. TTE, the previous market leader in unit sales, saw its share fall from 8.1 to 7.5 percent sequentially.

Flat-panel TVs continued their robust growth, with unit sales rising 26 percent sequentially to 5.13 million units. Their share of total TV unit sales increased from 9 to 13 percent sequentially.

DisplaySearch said rising flat-panel TV shipments were led by liquid crystal display (LCD) based TVs, whose shipments rose 27 percent sequentially to slightly over 4 million units. Plasma TV sales were also strong, while CRT sales continued to decline.