Samsung Electronics Co. ranked first in March in terms of sales of liquid crystal display (LCD) panels worldwide, a U.S. market researcher said.

According to DisplaySearch, Samsung Electronics sold a total of US$1.92 billion worth of LCD panels during the month, followed by its Taiwanese rival AU Optronics with $1.54 billion. Meanwhile, LG Display Co., slipped to third place, with its March sales standing at $1.41 billion.

The institute explained that Samsung's strong performance in March was due to its aggressive investment aimed at preempting fast-growing large LCD panel markets.