Samsung aims for premium with MicroLED TVs
Models pose with Samsung Electronics' MicroLED TV at the company's store in Seoul, Thursday. / Courtesy of Samsung Electronics
By Baek Byung-yeul
Samsung Electronics is taking an ambitious step to take the lead in the premium TV market, unveiling a new 110-inch TV that uses self-emitting MicroLED technology, the company said Thursday.
Priced at 170 million won ($156,713), Samsung's MicroLED TVs apparently target consumers with high purchasing power who seek superior home entertainment. The company said it will start taking pre-orders at the end of December, with the official launch scheduled for the first quarter of next year.
For the global market, Samsung aims to offer the MicroLED TVs in the United States, and Europe and Middle Eastern countries, and will expand the number of markets later.
The global TV leader has already been selling its MicroLED TV called The Wall for business-to-business purposes since it first introduced the new type at the 2018 Consumer Electronics Show.
MicroLED TVs are modular, with screens made of conjoined smaller panels. Millions of microscopic LED chips can emit core base colors such as red, green and blue so the new TV can deliver better color vibrancy and brightness.
Though the product is high priced, Samsung said MicroLED TVs can help the company find new market segments by attracting more high-end consumers.
Chu Jong-suk, center, executive vice president at Samsung Electronics' visual display division, speaks during an online conference introducing the company's MicroLED TV, Thursday. / Courtesy of Samsung Electronics
“We've seen there has been increasing demand for entertainment. Due to the COVID-19 pandemic, people are staying home more than before and are starting to seek better home entertainment equipment. We believe the MicroLED TV is the best-in-class home entertainment solution, offering the best picture quality and sound using the latest AI technology,” Chu Jong-suk, executive vice president of Samsung's visual display division, told reporters during an online conference.
When asked how many MicroLED TVs the company plans to sell next year, Chu didn't reveal specifics. “We bet our MicroLED TV is a good product and there are always consumers willing to pay for good products,” he said.
“Based upon the market response, we forecast we will be able to post a meaningful number.”
To meet more consumers with high purchasing power, Samsung plans to implement various “VVIP” marketing strategies.
“Given there have been no products similar to this, we couldn't meet consumers who want to purchase these kinds of TVs. But we found there are a fairly good number of consumers who want to enjoy content with the best entertainment solution at home. We will try to implement marketing activities to meet those consumers,” Chu said. “We call it VVIP marketing. We will also utilize people who know those consumers with high purchasing power as a sort of marketing tool.”
It remains to be seen whether the MicroLED TVs can compete with LG Electronics' rollable TV the LG Signature OLED R. LG unveiled the rollable TV, which rolls up like a poster, in October with a price tag of around 100 million won.