Korea's Samsung, LG rule Indian LCD market
According to the latest ORG survey, Samsung tops the market share with 36 %, followed by LG with 30 % and Sony in the third spot.business Updated: May 30, 2007 17:33 IST
Korean electronic giants Samsung and LG are cashing in on Indian consumers' shifting preference to enhanced television viewing experience, cornering over 65 per cent of the liquid crystal display (LCD) market.
According to the latest ORG survey for January-March quarter of 2006-07, Samsung tops the market share with 36 per cent, followed by LG with 30 per cent and Sony in the third spot accounting for 14 per cent.
As the major players vie for a bigger share of the market, LG is concentrating on toppling its compatriot Samsung from the top slot by 2007-end in the Indian LCD market, which is expected to touch four lakh units this year from the previous 1.5 lakh units.
"With focused approach and strategic planning, we expect to replace Samsung by December 2007," LG Consumer Electronics Business Head Amitabh Tiwari told PTI.
Samsung on the other hand, is giving emphasis on strengthening its hold in the market through a multi-pronged marketing approach.
"Efforts in terms of setting up LCD displays in multi- brand outlets, brand shop expansion, availability of interest- free finance and other promotional activities have enhanced awareness on our leading technology products like LCDs," Samsung India Deputy Managing Director R Zutshi said.
The battle between the two firms is expected to result in further expansion of the LCD market, which hithertho has been restricted by high prices.
Tiwari said availability of easy and interest free finance, besides dropping prices and increasing disposable incomes of people has helped in growing the market.