South Korean media: Chinese TV's market share in Japan exceeds 50% for the first time!
On October 3, South Korean media Seoul Economic Daily published an article stating that last year, the market share of Chinese TV manufacturers in Japan exceeded 50% for the first time. While Japanese companies are considering withdrawing from the business and the market performance is weak, Chinese companies are expanding their market share by improving price competitiveness and performance.
According to a survey and analysis by market research institution BCN Comprehensive Research Institute cited by Asahi Shimbun, the total shipment of TVs in Japan last year was 4.486 million units, with Regza accounting for 25%, Hisense for 16%, and TCL for 10%. These three companies are all Chinese enterprises, and their combined market share reached 51%. This is the first time that Chinese enterprises have held a majority share in the domestic TV market in Japan. Regza was originally a brand under Toshiba in Japan, and was acquired by Hisense in China in 2018.
The driving force behind the rise of Chinese TVs is "component procurement that leverages economies of scale" and the resulting "price competitiveness". Local companies supplying core TV components such as panels have captured 70% of the global market share, and the panels themselves also have price competitiveness.
TCL Group's market share in Japan has grown tenfold over the past five years and owns one of the largest panel factories in the world. Last year, TCL Group also announced the acquisition of LG Display's LCD factory, establishing a "vertical integration" system covering from panel production to TV assembly.
The performance of Chinese products has also improved. Asahi Shimbun explained, "In the past, Chinese products were seen as cheap or inferior, but the performance difference has almost disappeared now, and Chinese products have a cost-effectiveness advantage over South Korean and Japanese products."
With the increasing digitalization of broadcasting and the accelerated industrialization of TV assembly, Japanese companies are losing competitiveness by focusing only on value-added aspects such as picture quality and functions. According to a survey by BCN Research Institute, the market shares of Japanese companies Panasonic and Sony in the domestic market are both below 10%.
Original: www.toutiao.com/article/1844943436008458/
Statement: The article represents the views of the author.