LG and Samsung target new premium TV markets
India gets 8K, Japan favours OLED
As the global TV market continues to see China’s ascension through the ranks of manufacturers, South Korea’s electronics giants are looking to cultivate new markets.A report in the Business Korea news portal indicates that South Korea’s main TV manufacturers are looking to venture into new territories. It states that Samsung is branching out into the premium TV market in India while LG is tackling the challenging Japanese home electronics arena.
June 5th saw Samsung announce the launch of the 2019 edition of its QLED 8K TV - called the Q950R in the UK - in India. The entire range was released, from the 65-inch to the mammoth 98-inch top end model.
To support the flagship 8K range, which uses Samsung’s latest Quantum Processor 8K to implement AI that checks that the image and sound quality are kept optimal at all times, Samsung has added custom features specifically developed for Indian consumers. These include a function to enable viewers to use their TV as a PC and another to allow users to exchange content between their smartphones and the TV set.
Using an event on the 5th June at the National New Art Museum in Tokyo to launch its Signature brand, LG effectively announced its intention to take on the notoriously difficult Japanese electronics market.
Present at the launch were local business partners and the media. Firms who attempt to make inroads to the Japanese TV market find it dominated by domestic companies such as Sony and Panasonic and soon fall by the wayside in the face of this competition.
However, LG does have a small foothold with Japanese consumers, who tend to favour OLED TVs and it is here that LG is hoping to increase its market share as it pushes forward with its OLED-centred business strategy.
OLED TVs hold a 69 percent share of the premium TVs over $2,000 USD segment in the country and from 2017 to 2018, the OLED TV market grew 166 percent.
Sony and Panasonic both have OLED models in their TV line ups but LG dominates globally and will hope to use its expertise in this area to appeal to Japanese consumers.
Image Source: BusinessKorea, FlatpanelsHD
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