On June 11, a Market Researcher in IHS Market stated that Sony and its stake of the premium Television market in this year’s first quarter reached around 39 percent.
That is double the amount of their share in the previous quarter, which is 17.5 percent only. This made the company topping in the high-end TV market.
Threat to LG and Samsung
While Sony is celebrating their success, LG and Samsung may have felt threatened by it. LG Electronics’ market share has decreased by 8 percent from their previous quarter. They have now a share of 35.8 percent. On the other hand, Samsung Electronics has decreased around 7 percent making them drop to 7th place with a share of 13.2 percent.
LG Electronics maintained its #1 spot in the United States’ 1,500-plus ultra-premium TV market. The company has a market share of 40.8 percent, which is the same as the previous year. However, Sony raised its market share by 8.9 percent at the same time. This made the company have a market share of 34.4 percent. Still, Samsung Electronics holds the number-one position in the entire TV market with its market share of 28 percent.
What Contributed to the Revival of Sony?
Sony’s recovery is greatly affected by its marketing effects such as assertive promotions in the premium TV market. An official in the Korean TV industry says that Sony has used an excellent price cut policy. This was for the products from the previous year before LG and Samsung released new products this year.
Some experts, however, debate that it is not correct to say that Sony’s rise was only made possible by simple marketing activities. Sony, which already a long-established capital in the industry of televisions, is currently invading aggressively the premium TV market. The company is slowly topping the market that is dominated by LG and Samsung by launching new OLED TV models recently.
Thus, a lot of experts are anticipating that LG and Samsung will put speed to the growth of their sales in the premium TV market in the 2nd half of 2017. Samsung is planning to release a superior QLED 88-inch TV model. The release will be in August right after they launch an Ultra HD 82-inch TV model this month. On the other hand, LG Electronics is also speeding up their marketing efforts for Ultra High Definition TVs.