Korean TV makers Samsung and LG are taking a bite out of their Japanese competitors as economic pressures and weak demand strains companies like Panasonic and Toshiba.
Toshiba has reported a net profit dip of nearly a fifth in this year’s third quarter, tipping its hat to the strength of the yen currency and weak sales of TVs and PCs.
Panasonic has also forecast its largest annual loss in 10 years on the back of the strong yen, but also due to declining sales. The company is also in the process of an expensive restructuring of its recently-acquired Sanyo company and a streamlining of its TV business.
Korean manufacturers like LG and Samsung have been on the upswing on the other hand as industry reports show the pair has taken a 50 percent slice of the US TV market in the July-September period.
Market research from NPD Group tipped Samsung market share to 37 percent and LG to 13 percent in one of its key markets, as well as a 71 percent collective stronghold on the 3DTV market specifically. Panasonic and Sony each hold nine percent market share, with Toshiba sitting behind with seven percent.