LG Cinema 3D Stripping Market Share Away From Competitors
The company will probably reach 20 percent of the market for the devices by the end of 2011, up from 4 percent at the beginning of the year, said Kwan Sup Lee, head of marketing for LG’s home entertainment unit. Such models usually command a 20 percent premium compared with regular television sets, Lee said.
Speaking at the IFA show in Berlin LG said that they were confident that they could take on Samsung in the Smart TV and 3D markets.
LG admits that their initial global target of 40 million TV units for this year will be “a stretch”.
However the Company is confident that they will increase its global market share to more than 15 percent from 12 percent due to the success of their “Cinema 3D TVs”.
LG contributes their success to its latest Film Patterned Retarder, or FPR, technology, using glasses that it says are lighter and more comfortable and lead to less eye strain. Philips and Toshiba are among other TV makers adopting the technology, developed by LG Display while Sony is still considering it, Lee said.
Currently Samsung, Toshiba, LG and Sony are pushing 3D televisions to counter falling demand in the Australian market. Researchers are forecasting that the TV is set to decline between 2011 and 2015.
IMS Research said that the total TV market will be about 200 million units this year, with 3D TVs making up about 10 percent, compared with 1 percent last year, Lee estimated.
“If we make a strong push into this newly developing premium segment, we can set a trend and establish an image as an innovator,” Lee said in an interview at the IFA consumer electronics fair in Berlin. “This is a fortuitous cycle for us, and that’s why we’re really focusing on this 3-D technology.”
In Australia Sony is struggling after recently announcing a $14K profit on $703 turnover. This time last year the Company was punting on 3D taking off in Australia.
Recently the struggling Japanese Company cut the sales forecast for its Bravia televisions by 19 percent to 22 million units worldwide this year. Philips, who got out of the Australian TV market last year, said recently that it would divest its 80-year-old TV unit to a Hong Kong contract manufacturer.