According to the latest numbers from industry tracker IHS Technology, China’s share of the world television market hit a record high in the third quarter of 2016 — sharply narrowing the gap with top TV-maker South Korea.
Chinese brands took had 31.9 percent share of the global TV market for the quarter, a rise from 28.9 percent in the previous quarter, while South Korea held on to the number one spot with 32.2 percent of the global market.
For South Korea that is a drop down from 35.4 percent a quarter earlier.
The closing gap is attributed to affordable prices and Chinese government support reports Yonhap.
WitsView, another industry data tracker, said that two leading Chinese brands — TCL and Hisense — had sales rise 42.3 percent and 29.2 percent each for the third quarter.
As for competing South Korean brands, 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.
This post appeared in Branding in Asia.
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