LG Electronics has thrown down the gauntlet to Samsung Australia by claiming they have grown their share of the fast growing over 55″ TV market by more than 35% during the past 12 months.
Last year Samsung took LG to the Federal Court alleging LG was engaging in false and misleading conduct in the marketing of their 55″ and over Cinema 3D Smart TVs.
After the Federal Court rejected Samsung’s application for interlocutory relief, Samsung chose to pursue the matter further with new hearings before Justice Nicholas scheduled for later this year.
Yesterday at the launch of their new 84″ UD TV, which delivers content four times the resolution of a high end Full HD TV, LG stunned the market by sticking a recommended retail price on the new TV of $15,999. The same TV is selling in the USA for $22,100.
At yesterday’s launch of the new TV, Lambro Skropidis, the Marketing General Manager at LG Electronics–who was Marketing Director at Samsung Australia when the Korean Company decided to take on LG over their 3D–said LG was achieving record growth in the over 55″ TV market. He said that unit growth of over 55″ TVs had grown by 56% during the past last twelve months.
“LG is now a solid number two in the TV and we are closing on our competitors”.
While the overall TV market had declined 6% from 3,181,966 units to 2,983,126 units, LG has grown their share from 195,458 units to 304,287 units.
Samsung Australia has refused to comment on their position in the market or when they will launch an OLED TV to take on the new 4K TV from LG, other than their striving to meet a Christmas 2012 deadline.
Skropidis claimed that when it came to buying a TV, research showed that consumers today are on average paying over 2.5 times more for a TV with premium technologys
Hesaid that “Full HD TV has become the norm, and the opportunity now exists for a new standard to represent a new price premium in the market”.
GFK Research indicates that 78% of consumers want a larger screen, while 74% want Full HD and better sound.
Skropidis said LG’s new 84″ 4K offering delivered the best TV display of any TV available in Australia and that LG was confident they could grow their share of the over 55″ market by not only delivering a 4K TV with a superior picture, but superior 3D technology and a suite of Smart TV services spanning content and gaming and Internet access.