S. Korean firms maintain lead in global TV market in Q1: IHS Markit

SEOUL, May 30 (Yonhap) -- South Korean tech giants maintained their lead in the global television market over the January-March period, data showed Wednesday, widening the gap with Chinese rivals that have been trying to catch up to Samsung Electronics Co. and LG Electronics Inc. According to the data compiled by industry tracker IHS Markit, Samsung Electronics took up 28.6 percent of the global TV market in terms of revenue, followed by LG Electronics Inc. with 17.9 percent and Japan's Sony Corp. with 9.1 percent. Chinese brands, TCL and Hisense, came in fourth and fifth places, respectively, with shares of 5.8 percent and 5.3 percent, IHS Markit added. By country, South Korean brands accounted for 46.5 percent, trailed by China with 21.5 percent and Japan with 17.7 percent. The January-March figures for 2018 are significant as the gap between South Korea and China in terms of market share stood at around 10 percentage points in the first quarter of 2016. Industry watchers said South Korea was able to widen the gap with Chinese firms by focusing on selling premium products compared with Chinese rivals, which mainly shipped price-competitive TVs. Samsung, LG and Sony took up 74.1 percent of the market for TVs sized 65 inches and above. The three companies also accounted for 90 percent of TVs priced US$2,500 and beyond over the first quarter. Industry watchers, meanwhile, claimed that Samsung and LG should still expand investment in research as Chinese companies are also quickly narrowing the technology gap. The government needs to come up with eased regulations to induce local tech firms to invest more, they added. colin@yna.co.kr (END)