South Korea’s tech giant Samsung Electronics Co. is on a path to become the world’s top TV maker for 12 straight years with its premium TVs commanding the largest share of 42 percent in the global premium TV market.

Stellar sales of its high-end TV products with high price tags are expected to help the company improve profitability in TV sales despite a fall in total TV sales volume.

According to the joint survey result by global market data providers GfK and NPD on Sunday, share of Samsung Electronics in the market for high-end TVs priced above $2,500 per unit rose to 42 percent in August by sales from 31 percent in February. The company struggled at the beginning of this year due to disruption in panel supplies from its primary overseas provider Sharp Corp. acquired by Hon Hai Precision Industry Co. of Taiwan. But it is now poised to regain its top position in the TV market thanks to its focus on large-screen and premium TVs.

The TV maker also led the market for TVs priced over $3,000 and $2,000 per unit by achieving a respective share of 43 percent and 44 percent. GfK and NPD data found that the firm accounted for 33 percent in the entire TV market. GfK and NPD measured TV sales data based on consumer prices and retail sales volume unlike another global market research firm IHS Markit that tracks TV sales data based on factory shipments and prices.

Samsung Electronics took a 49 percent share in the U.S. market for TVs carrying a price tag of over $2,500 per unit, and 36 percent in Europe. “Sales of premium TVs boasting high profitability are robust in the U.S. and Europe,” said an official of Samsung Electronics, adding that it expects strong fourth-quarter earnings in its TV segment as sales are expected to continue to increase ahead of the year-end shopping season.

The solid performance has been driven by brisk sales of its upgraded QLED TVs released in March. The new quantum-dot technology based TV boasts excellent viewing angles and picture quality. The QLED TVs with screens larger than 70 inches have been especially popular.

By Song Sung-hoon, Kim Dong-eun and Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]