[Aju News DB]
Chinese TV makers were on the traces of South Korean rivals in terms of volume, design and technology, raising their global market share to near 28 percent last year, data showed Tuesday.
South Korea's two leading TV makers -- Samsung and LG -- saw their combined share of the global TV market fall to 33.6 percent in 2015 from 37.1 percent a year earlier due to competition with Chinese brands which expanded there share from 21.8 percent to 27.5 percent, according to market researcher IHS Technology.
Based on shipments, Samsung's market share was down to 21 percent in 2015 from 22.5 percent a year earlier, while LG's share fell to 12.6 percent from 14.5 percent. But they increased their profit last year thanks to brisk sales in high-end models.
South Korean firms have invested heavily on ultra high definition or organic light-emitting diode (OLED) panels. IHS forecasts the global OLED panel market will grow to $29.1 billion in 2022 from $8.7 billion in 2014.
Demand for flexible OLED panels in the smartwatch and automotive display sectors has been rising because they offer better design flexibility than LCD panels.
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reporter
Park Sae-jin
swatchsjp@ajunews.com
