Samsung, LG suffer setbacks in China's 3-D TV market

By Kim Young-gyo
HONG KONG, June 1 (Yonhap) -- South Korea's Samsung Electronics Co. and LG Electronics Inc. saw their shares of China's 3-D TV market halve in the first quarter due to growing competition from Chinese makers, a market researcher said Wednesday.
Beijing-based All View Consulting Ltd. said Samsung Electronics Co. held an 18 percent share in the burgeoning 3-D TV market of China in the January-March period, down from 33 percent three months earlier.
The market share of Samsung's homegrown rival, LG Electronics Inc., was a mere 1 percent in the first quarter, compared with the previous quarter's 2 percent.
Japan's Sony Corp., which had been the leader in China's 3-D TV market, suffered the largest drop, with its market share plunging to 18 percent from 47 percent.
The market tracker attributed the tumble in the foreign makers' market shares to Chinese TV makers' aggressive move to play catchup and expand their presence with cheaper products.
China's electronics manufacturers such as Hisense Group and Skyworth Group have narrowed technology gaps with the foreign competitors but are providing similar products at cheaper prices, All View Consulting explained.
Chinese makers accounted for 45 percent of China's 3-D TV market in the first quarter, more than tripling from 14 percent in the fourth quarter of last year.
The market researcher also said the Chinese companies showed stronger sales during China's major holidays as they carried out more aggressive marketing promotions.
Market watchers estimate more than 23 million 3-D TVs will be sold in China this year, with the market size likely to grow to 100 million units in 2014 and 159.2 million units in 2015.
ygkim@yna.co.kr