Sunday, October 2, 2022

TVs: Samsung and LG are coming under increasing pressure

Not so long ago, Samsung and LG were budget contenders in the TV market. Meanwhile, the tide has turned and the two South Korean companies are under pressure from Chinese competition.

The increasing pressure is certainly great especially as the entire market is shrinking. In the first half of this year, global sales fell 6.6 percent year-on-year to 92.6 million devices. During this period, sales to television makers also fell 12.5 percent to $47.5 billion — clearly reflecting a strong price war.

According to a report by business magazine BusinessKorea, the market share of Samsung Electronics and LG Electronics, the two market leaders, fell, while the combined market share of TCL, Hisense and Xiaomi increased from 25.3 per cent to 27 per cent. Chinese leader TCL’s stake stood at 11.1 percent in the first half of the year, meaning the company has almost caught up with LG Electronics with 13.7 percent recently.

hardly any hardware advantage

South Koreans today have the same problem that Japanese electronics companies put under pressure years ago: China’s cheap suppliers are practically no inferior to them in terms of technical development of hardware. Only with OLED devices do you have a clear lead, and you can often offer even more in the software and services space.

In China, OLED production is being expanded rapidly, especially for smartphones. However, large panels for television have not yet been made here to any significant extent. However, that will change in the near future as well, with Samsung and LG trying to score points in the service sector by building more integrated platforms. There are certainly good prospects here, as Chinese companies are far outside of China to network with the software and media industry.TV, LG, TV, OLED, 4K, LG Electronics, TV, Ultra HD, UHD, Smart TV, UltraHD, Lineup 2022

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TVs: Samsung and LG are coming under increasing pressure

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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