Yong Seok-woo, president and head of the visual display business at Samsung Electronics Co., speaks during a press conference to showcase the company’s latest TV lineup in southern Seoul on April 7, 2025. (Yonhap)
SEOUL, April 7 (Korea Bizwire) — Samsung Electronics Co. said Monday it plans to leverage its global production network to navigate new U.S. tariff policies, including reciprocal duties that target goods from nearly all countries, including South Korea.
“We sell TVs, monitors and sound bars in the United States, with TVs making up the majority,” Yong Seok-woo, president and head of the visual display business at Samsung Electronics, said in a press conference. “Most of those TVs are produced in Mexico.”
Last week, U.S. President Donald Trump announced plans to impose a minimum 10 percent baseline tariff on all imports to the United States and country-specific reciprocal tariffs that include 25 percent duties for South Korea.
Goods from Mexico and Canada are not subject to the new tariff schemes.
“The impact of the new reciprocal tariffs is slim, but we are monitoring the situation closely as U.S. trade policies continue to evolve,” he said. “With 10 production bases globally, we plan to overcome these challenges through strategic production allocation.”
Samsung currently produces TVs in several countries, including India and Vietnam. While products from Mexico are exempt from the new tariffs, those from Vietnam face a 46 percent reciprocal tariff when entering the U.S. and those from India 26 percent.
Yong noted that Samsung Electronics does not intend to raise prices on flagship models because of the tariffs. Instead, the company is expanding its lineup of mid-range and entry-level TVs.
“We have expanded our 2025 lineup in these segments,” Yong said. “Customers may feel better prices.”
Samsung Electronics retained its position as the global leader in the global TV market in 2024, holding the No. 1 spot for 19 years in a row.
The company captured 28.3 percent in global TV sales in 2024, followed by LG Electronics Inc. with a share of 16.1 percent.
In the premium segment for TVs priced over US$2,500, Samsung Electronics held a commanding 49.6 percent market share.
(Yonhap)
