China narrows TV market share gap over S. Korea in global market

China's share of the world's television market rose to a record high in the third quarter of this year, narrowing its market share gap over South Korea, according to industry data on Monday.

Chinese brands took a combined 31.9 percent of the global TV market for the quarter, up from 28.9 percent a quarter earlier, the data by industry tracker IHS Technology showed.

In comparison, South Korean firms took a combined 32.2 percent of the global market for the quarter, down from 35.4 percent a quarter earlier.

Armed with affordable prices and their government's support, Chinese TV makers have been rapidly increasing their sales in global markets.

As part of efforts to maintain the No. 1 spot, South Korean manufacturers, such as Samsung Electronics Co. and LG Electronics Inc., have put their priority on selling super-ultra-high-definition TVs with quantum dot technology.

Quantum dot TVs offer better picture quality and cheaper manufacturing costs than organic light-emitting diode (OLED) TVs.

Samsung's quantum dot TV Photo: Yonhap file photo

According to industry data by WitsView, two leading Chinese brands -- TCL and Hisense -- saw their sales jump 42.3 percent and 29.2 percent each for the third quarter.

Samsung took 19.8 percent of the global TV market for the quarter, followed by LG with 12.4 percent and TCL with 6.5 percent, according to the data.

(YNA)