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Samsung Electronics and LG Electronics are betting on lucrative premium and large televisions to maximize profits in the second half of this year.
Last month, Samsung launched 75-inch QLED TVs in Korea, a larger version of existing 55-inch and 65-inch QLED models. The tech firm also plans to roll out larger lineups, 82-inch and 88-inch models, this month and in August respectively.
LG, Samsung’s archrival in home appliances, also unveiled 86-inch and 75-inch super ultra-high definition televisions in March. The following month, the tech firm launched 77-inch LG Signature OLED TV W in Korea for 33 million won ($29,000), the largest and most expensive OLED TV in the market.
According to market research firm IHS Markit, the combined share of Samsung and LG in the global premium television market priced over $1,500 was around 50 percent in the first quarter of this year, with LG having a 35.8 percent share and Samsung grabbing a 13.7 percent share.
“The market share of premium TVs is important to its producers as it determines their profitability. Samsung, LG and Sony will drive the demand of large TV panels in the third quarter by launching supersized models,” said Kim Dong-won, an analyst at KB Investment & Securities.
Kim added the companies, which will expand their premium TV market share, will see profits rise in the second half.
Both Samsung and LG said they will continue to focus on premium and large TVs, viewing them as lucrative and marketable models.
“Growing sales of large TVs in recent years are driven by needs of both consumers and TV makers. Consumers now pay more attention to size than resolution -- which is already high enough -- while TV makers want more lucrative models,” a Samsung spokesperson said.
A LG’s spokesperson said, “(The trend) is expected to continue as consumers can now buy larger TVs at more affordable prices (than in the past) due to the falling panel prices. 50-inch to 59-inch TVs are expected to be mainstream in the market for the next few years.”
According to IHS, the share of TVs that are 50-inch and higher will reach 50 percent in the global TV market this year for the first time. The share of TVs that are 50-inch to 59-inch is also expected to increase to 35.3 percent this year from 29.1 percent in 2015.
By Shin Ji-hye (shinjh@heraldcorp.com)
Last month, Samsung launched 75-inch QLED TVs in Korea, a larger version of existing 55-inch and 65-inch QLED models. The tech firm also plans to roll out larger lineups, 82-inch and 88-inch models, this month and in August respectively.
LG, Samsung’s archrival in home appliances, also unveiled 86-inch and 75-inch super ultra-high definition televisions in March. The following month, the tech firm launched 77-inch LG Signature OLED TV W in Korea for 33 million won ($29,000), the largest and most expensive OLED TV in the market.
According to market research firm IHS Markit, the combined share of Samsung and LG in the global premium television market priced over $1,500 was around 50 percent in the first quarter of this year, with LG having a 35.8 percent share and Samsung grabbing a 13.7 percent share.
“The market share of premium TVs is important to its producers as it determines their profitability. Samsung, LG and Sony will drive the demand of large TV panels in the third quarter by launching supersized models,” said Kim Dong-won, an analyst at KB Investment & Securities.
Kim added the companies, which will expand their premium TV market share, will see profits rise in the second half.
Both Samsung and LG said they will continue to focus on premium and large TVs, viewing them as lucrative and marketable models.
“Growing sales of large TVs in recent years are driven by needs of both consumers and TV makers. Consumers now pay more attention to size than resolution -- which is already high enough -- while TV makers want more lucrative models,” a Samsung spokesperson said.
A LG’s spokesperson said, “(The trend) is expected to continue as consumers can now buy larger TVs at more affordable prices (than in the past) due to the falling panel prices. 50-inch to 59-inch TVs are expected to be mainstream in the market for the next few years.”
According to IHS, the share of TVs that are 50-inch and higher will reach 50 percent in the global TV market this year for the first time. The share of TVs that are 50-inch to 59-inch is also expected to increase to 35.3 percent this year from 29.1 percent in 2015.
By Shin Ji-hye (shinjh@heraldcorp.com)
