LG Electronics Takes Steps to Grab No. 1 Spot in TV Market

SEOUL, KOREA - LG Electronics is accelerating its effort to take the No. 1 spot in the TV market.The company showed off a variety of new OLED and UHD TVs on March 11. It plans to release a total of 16 new UHD TV models this year, compared to last year’s five new models.

 

LG Electronics’ UHD TV slogan is “World’s First or World’s Best.” In the global flat panel TV market, LG Electronics has a share of 15.3 percent, ranking No. 2 behind Samsung Electronics which has a share of 26.8 percent.

In the UHD TV segment, LG Electronics ranks No. 8, standing not only behind Samsung but also behind a group of Chinese companies.

According to market research firm DisplaySearch, the share of UHD TVs in the flat panel TV market is forecast to rise to 32.8 percent in 2016 from this year’s 1.5 percent.

Amid a slowdown in overall TV demand worldwide, LG Electronics intends to differentiate itself from Chinese companies, on the back of its strength in UHD and curved technologies.