Samsung Electronics has lowered the price of a recently launched new 98-inch quantum dot QLED 8K TV model by nearly 30 percent to promote 8K TVs.
Samsung Electronics lowered the price of the 98-inch QLED 8K TV launched in the United States last month to the US$70,000 level. The price is about US$30,000 off from the originally announced price of US$100,000. The model is expected to go on sale in Korea with a similar price at the end of this month.
Samsung Electronics significantly cut the price of the TV model only one month after its launch order to rev up the 8K TV market. The price of an 85-inch 8K QLED TV which Samsung Electronics put on the market last year, is 25.9 million won. The initially announced price of the new 98-inch QLED 8K TV model was about four times as much as the 85-inch 8K QLED TV model, a level that consumers may feel too expensive. Taking this into consideration, Samsung Electronics significantly lowered the price.
In addition, Sony, a rival of Samsung Electronics, set the price of an 8K LCD TV to be released next month at US$70,000. Experts say that Sony’s decision may have compelled Samsung Electronics to cut the price. Although Sony's influence in the global TV market has shrunk significantly compared to the past, it still has competitiveness in premium markets such as North America and Europe. Samsung Electronics could not disregard the pricing policy of the influential competitor as it was stepping up its efforts to penetrate the premium market through 8K TVs.