South Korean conglomerate Samsung Electronics Co. Ltd. (SSNLF.PK, SSNNF.PK) plans to re-enter the Japanese market for flat-panel televisions in 2013, the Nikkei business daily reported Monday. The company reportedly plans to launch a lineup of organic electroluminescene or OEL and upmarket LCD television sets.
Samsung previously entered the Japanese TV market in 2002 by launching LCD television sets, but struggled in that country due to low brand recognition. The company withdrew from the Japanese market five years later, in 2007. At that time, the company had a market share of about 0.3 percent.
However, of late, Samsung's Galaxy smartphones have gained popularity in Japan and consumers are becoming familiar with the Samsung brand. The company has now reportedly gained confidence that it will able to garner a market share of 7 percent if it launches OEL TVs ahead of local rivals.
According to the Nikkei report, Samsung will likely offer high-end LCD TV sets in Japan featuring screens 40 inches or larger and advanced functions like Internet connectivity and 3-D. The company might also sell a 55-inch OEL TV in Japan.
About 26 million flat-panel TVs are estimated to have been sold in Japan in fiscal 2010, reflecting a surge in demand caused by the end of analog broadcasts. However, sales of flat-panel TVs in fiscal 2011 are forecast to drop to around 15 million units in the country.
Last Monday, Sony Corp. (SNE) said it has agreed to sell its 50 percent stake in its LCD panel manufacturing joint venture, S-LCD Corp, to Samsung for a cash consideration of 1.08 trillion won, or nearly $940 million. The deal is expected to close by the end of January 2012.
Following the deal, S-LCD will become a wholly owned unit of Samsung and it expects that the whole ownership of S-LCD will increase flexibility, speed and efficiency in both panel production and business operations. The joint venture was formed in 2004 to make LCD that is used in televisions.
SSNLF.PK last closed trading at $835.00 on November 21 on a volume of 100 shares.
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