Led by Korean Makers: Smart TV Market Growing Rapidly | BusinessKorea

Thursday, January 18, 2018

Led by Korean Makers

Smart TV Market Growing Rapidly

Samsung smart TV providing songs and movies with various content suppliers such as Amazon and Netflix. (photo courtesy: Samsung Electronics)
Samsung smart TV providing songs and movies with various content suppliers such as Amazon and Netflix. (photo courtesy: Samsung Electronics)
Seoul, Korea
27 December 2017 - 10:45am
Cho Jin-young

According to market research firm IHS Markit on December 26, smart TVs are expected to account for more than 60% of the global TV market this year. The ratio increased from 13% to 35.3% between 2011 and 2013 and then to 47% in 2016.

The growth of the market segment is being led by Samsung Electronics and LG Electronics. This year, the ratio of Samsung Electronics’ smart TV sales to its total TV sales is expected to exceed 70% for the first time ever. After Samsung Electronics released its first smart TV in 2011, the ratio reached 32% in 2012, 47% in 2014 and 65% in 2016.

Samsung Electronics increased the number of its smart TV contents from 1,000 or so to 3,000 between last year and this year and is planning to apply its voice-recognition assistant Bixby to its smart TVs next year. This is to connect its TV, Family Hub refrigerator and AI speaker to home appliances and automobiles.

LG Electronics is providing the Channel Plus service so that TV programs and movies can be enjoyed online based on over-the-top (OTT) technology without a set-top box. By using the service, customers can enlarge and record the screen while watching TV programs and watch 360-degree pictures in their USBs and external hard drives via the TV screen.

The market research firm, in the meantime, recently said that Samsung Electronics accounted for 37.9% of the global smart TV market last year, followed by LG Electronics (12.5%), Sony (8.4%), Vizio (5.9%) and Philips (3.4%). 

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