Samsung, LG seeking greater share of Europe TV market
By Kim Yoo-chul
FRANKFURT, Germany ― Samsung Electronics and LG Electronics are expected to increase their market share in the European high-end TV market, analysts and company officials said Wednesday.
The European TV market has remained sluggish, but demand for curved UHD and other high-priced, high-end TVs is steadily growing.
They said the growth of broadband services and expansion of Internet-linked content are also triggering fresh demand throughout Europe's video and TV industry.
Samsung and LG are seeking to ride this trend, spending more on marketing and expanding partnerships for the provision of better content.
European consumers have started buying pricey Samsung and LG curved UHD and organic light-emitting diode (OLED) TVs, which have drawn positive reviews from a number of research institutes, marketers say.
"We are seeing some positive changes as high-end TV prices are going down. They are showing keener interest in Samsung and LG brands which are competitive in terms of technology," said an official at a store selling appliances near Heidelberg’s city center.
He said a growing number of customers are showing interest in Samsung Electronics' curved UHD TV sets and LG Electronics’ OLED TV sets.
"I think this is kind of a seller's market and buyers are willing to spend," he said.
Samsung is actively promoting its curved UHD TV sets in Germany and other European nations.
It introduced a massive 105-inch curved set in August this year in France and the United Kingdom, as well as Germany.
GfK, a market research firm, said Samsung was the top TV seller in TVs sized over 60-inches by the end of the second quarter of the year with its market share reaching 53 percent, up by 6.7 percentage points from a quarter earlier.
LG Electronics competes with Samsung with OLED TVs, and has raised its sales target this year in Europe.
"Germany is a very important market for us. We will more aggressively market OLED TVs to take a bigger slice of the market," said an LG official.
Another positive factor is that the adoption of PC-to-TV connections in Europe has surpassed that of the United States.
Samsung and LG are expanding partnerships with pay-TV and content providers.
"Pay-TV providers are introducing their own services to compete with new players, and broadcasters are expanding access to online video. They will find a receptive audience as European broadband households are very active online. Many are eager to get online content on their televisions, evidenced by the strong adoption of PC-to-TV connections and smart TVs," said Parks Associates, another research firm.
Companies are now adding new features to differentiate their offerings, including personalized recommendations and second-screen features.
"This will further encourage TV makers," it said.