Sony’s Revival
According to market researcher IHS Markets on June 11, Sony's share of the premium TV market in the first quarter of this year more than doubled to 39.0% from 17.5% in the previous quarter, topping the market.
On the other hand, LG Electronics’ market share fell by eight percentage points to 35.8% from the previous quarter, while Samsung Electronics slipped to 7th place with a 13.2% share which means a drop of seven percentage points.
In the US$ 1,500-plus ultra-premium TV market, LG Electronics maintained its number-one position with a 40.8% market share the same as in the previous year. But Sony (34.4%) closely trailed LG Electronics by raising its market share by 9.8 percentage points over the same period. However, in the entire TV market, Samsung Electronics held the No. 1 spot with a 28.0% market share, while Sony chalked up a 7.8% market share.
In the premium TV market, marketing effects such as aggressive promotions significantly contributed to Sony's resurgence. "Sony used an exceptional price cut policy for the previous year's products before Samsung and LG launch new products on a full scale this year," said an official in the Korean TV industry.
However, some experts argue that it is not right to say that the rise of Sony, a traditional powerhouse in the TV industry, was made possible simply by marketing activities. Sony is aggressively invading the premium TV market dominated by Samsung and LG by recently launching new OLED TV models.
Accordingly, it is expected that Samsung and LG will put spurs to the expansion of their sales in the premium market in the second half of this year. Samsung is planning to launch a premium 88-inch QLED TV model in August after an 82-inch Ultra High Definition (UHD) TV model this month. LG Electronics is also stepping up its marketing efforts for ultra-HD OLED TVs.