Samsung Electronics launched a 98-inch 4K Neo QLED TV at an ex-factory price of KWR19.1 million (US$16,215) in August 2021, much lower than the retail price of KRW70 million for a 98-inch 8K QLED TV it launched in 2019, while LG Electronics plans to launch 97-inch 4K OLED TV series in 2022, with ex-factory prices estimated to far, exceed KRW20 million which is much lower than the retail price of KRW41 million for a 98-inch UHD LCD TV it launched in 2014, according to South Korea-based IT Chuson.
Samsung will further launch a 99-inch micro LED TV in November 2021.
Global demand for TVs had sharply increased due to the coronavirus pandemic. As the South Korean government’s “With Corona” policy to ease COVID-19 control measures is likely to reduce TV demand in the South Korean market, Samsung and LG turn to a blue-ocean marketing strategy of enhancing sales promotion for above 90-inch non-LCD TVs.
Samsung currently focuses on the domestic market for above 90-inch non-LCD TVs and will watch market response for planning to tap overseas markets.
According to Omdia, Samsung recorded a global market share of 43% for 75-inch TVs and that of 51.9% for 80-inch and above models in the first half of 2021, while LG’s global market share for 75-inch and above TVs stood at 20%. TVs of over 75 inches took up 14.6% of all TVs sold globally in the six months, up 4.4 percentage points from the same period of 2020. DigiTimes