Chinese TV brands Haier, HiSense, Skyworth, TCL, Xiaomi, and others have rapidly improved their market share in their homeland with the help of low-price strategy and backing from the government. These brands are now aiming for the premium TV market which has long been dominated by Korean firms like Samsung and LG. These brands have a combined market share of 73.8 percent in the premium market.
A premium TV is generally considered a product that costs north of $2000. Chinese TV firms have significantly increased their market share in the low-end segment with TV costing below $500. However, they couldn’t compete with Samsung and LG in the premium TV segment as the Korean brands have an immense brand presence and quality competitiveness. Now, the Chinese brands are making strides to grow their market share in the premium segment by expanding to the global market.
The UHD Alliance, a global coalition that promotes UHD globally and provides certifications to TVs that pass its tests, held its first general meeting in Korea. Only three brands – LG, Samsung, Sony – have been able to receive premium certification. Samsung has a market share of 43.1 percent, and LG has a market share of 30.7 percent in the premium market during Q4, 2015. However, HiSense and TCL have recently joined the UHD Alliance and made an effort to obtain premium certification.
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