Samsung is a world leader in the manufacturing of TV’s and the company has just recently launched a new 98-inch 4K Neo QLED TV at an ex-factory price of KWR19.1 million (US$16,215) in August 2021. the new TV is much cheaper than the retail price of KRW70 million for a 98-inch 8K QLED TV which the company launched in 2019.
On the other hand, the biggest rival of Samsung Electronics, LG Electronics is planning to launch its 97-inch 4K OLED TV series in 2022, with ex-factory prices estimated to far, exceed KRW20 million. This price is also much lower than the retail price of KRW41 million for a 98-inch UHD LCD TV the company had launched back in 2014.
Samsung Electronics has also reported that it will be launching a new 99-inch micro LED TV in November 2021 as the global demand for TVs has sharply increased due to the coronavirus pandemic.
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, as a result, both Samsung and LG are turning to a blue-ocean marketing strategy of enhancing sales promotion for above 90-inch non-LCD TVs.
According to reports, Samsung is currently focusing on the domestic market for above 90-inch non-LCD TVs and if the response received is largely positive then the South Korean tech giant will be tapping into the overseas market.
According to India, Samsung recorded a global market share of 43% for 75-inch TVs and also has 51.9% of the market share for 80-inch in and above models in the first half of 2021. coming to LG, the company’s global market share for 75-inch and above TVs is at 20%.