SEOUL, Mar. 29 (Korea Bizwire) — Global tech manufactures have been cutting costs of premium televisions recently amid the escalating competition in the global market, industry watchers said Thursday.
Samsung Electronics Co., which has been promoting QLED TVs, reduced the price of its 55-inch QLED TV, the QN55Q7FN, to US$1,900, down 24 percent from $2,500. Its 65-inch product also fell to $2,600 from last year’s $3,500, with the price of the larger 75-inch product also being adjusted to $4,000.
LG Electronics Inc., which has been focusing on organic light-emitting diode (OLED) TVs to compete with Samsung, revised down its products to gain more competitiveness in price as well.
The global consumer electronics company reduced its 55-inch OLED TV, the OLED55C8P, by 28.6 percent this year to $2,500. The 65-inch product was also discounted by 22.2 percent to $3,500.
Japan’s Sony Corp. also reduced the cost of its 55-inch OLED TV, the XBR-55XA8F, to $2,800 from the previous $5,000.
Industry watchers said the tech giants are focusing efforts on taking the lead in the premium TV sector as it has emerged as a crucial segment.
“The global TV market currently remains stagnant, but the premium sector has been posting growth,” an industry insider said, claiming that the QLED and OLED TV producers will continue to engage in a fierce competition this year by cutting costs.
Another industry watcher said the demand for large-sized TVs will also grow this year due to the upcoming 2018 FIFA World Cup in Russia and the 2018 Asian Games in Indonesia.
Industry tracker IHS Markit estimated Samsung accounted for 26.5 percent of the world’s TV market last year, followed by LG Electronics and Sony with 14.6 percent and 10.2 percent, respectively.