Samsung and LG Grow Flat-Panel TV Revenues
It has been a rough year for Japanese TV makers. Sony and Sharp both sustained considerable losses, while Panasonic has made known its plans to reduce its LCD and plasma production capacities despite netting a S$202 million profit from April to June this year. Their South Korean competitors, it appears, are having a better time. According to DisplaySearch's Quarterly Global TV Shipment and Forecast report, Samsung and LG Electronics registered positive year-on-year growth relating to worldwide flat-panel television revenues for the third quarter. Both companies managed to grow their profits of global flat-screen TVs by three percent and one percent respectively.
Samsung's third quarter results dipped slightly compared to the previous quarter, although the company still managed to close Q3 with a 25.2 percent share -- ten percent higher than rival LG. All three Japanese brands; Sony, Sharp, and Panasonic; sustained negative Y/Y growth. Sony suffered a 34 percent slump in flat-panel television revenue worldwide, with Panasonic not too far behind at 30 percent. Sharp, on the other hand, managed to grow its revenue between Q2 and Q3 by a significant 42 percent; a considerable improvement compared to its dismal Q2 revenue figure.
Elsewhere in the States, unit shipments are up by almost three percent. According to DisplaySearch's article, the trend in the U.S. market is now gearing towards "bigger and cheaper TVs", a notion undoubtedly on the mind of most shoppers following the recent slew of Black Friday discounts which kick-started last week.