Korean Appliance Makers Battle for Home Theater Market
Jun 4, 2003
| Print this page
Three domestic appliance makers are battling it out for the burgeoning home theater markets at home and abroad.
Korean manufacturer Samsung Electronics, which decided to aggressively push its home theater system business last year, is trying to lure customers in different regions with various models. The global electronics maker is emphasizing high-powered amplifiers in the U.S. market, compact sizes in the European market, and tallboy speaker systems in the domestic market.
Samsung forecast the domestic market to expand by 100 percent in the second quarter on an annual basis and shipments to increase by 30 percent from the previous year. The appliance maker, which had several models chosen as bestsellers by U.S. retail store Best Buy for 2 straight months last year, is aiming to expand its U.S. sales by more than 100 percent.
LG Electronics also saw surges at home and abroad during the first 5 months of the year. The firm said its exports increased by 380 percent and 320 percent during the aforementioned period in terms of the number and amount of systems. LG is targeting a 50-percent domestic share and 25 percent overseas share this year.
Daewoo Electronics is also stepping up its efforts to expand its hold on the market by turning out new models almost every month. The company, which has so far focused on domestic consumers, plans to begin exports to Europe in the second half and to the North American and Middle East markets thereafter.
The expansion of the lucrative home theater market is said to be helped by the production of large and high-definition digital TVs and introduction of digital TV broadcasting.
"Home theater systems are emerging as a new export engine as U.S. $695 million worth of such products were shipped abroad between January and April, up 52.6 percent from a year ago," an official at the Ministry of Commerce, Industry and Energy said. (Asia Pulse, Yonhap)
Back to Breaking News