SEOUL, KOREA- Samsung Electronics and LG Electronics, the No. 1 and 2 players in the global TV market, are engaged in price cutting competition to gain a larger share in the OLED TV market.Samsung Electronics, for example, cut the price of its OLED TV by more than 30 percent, while LG Electronics released mass-market models to remove bubbles in the price of premium UHD TVs.
Samsung Electronics announced on August 11 that it decided to lower the price of its 55-inch curved OLED TV from 15 million won to 9.9 million won. In just one month after it started deliveries last month, Samsung reduced the prices by 34 percent. This is about 10 percent cheaper than the price of LG Electronics' flat OLED TVs (11 million won), let alone the latter's curved OLED TV price (15 million won).
Samsung Electronics plans to refund 5.1 million won to the consumers who have already purchased Samsung's curved OLED TVs at a price of 15 million won.
LG Electronics released popular type UHD TVs by removing some features from premium models. The price of the popular type UHD TVs is set at 5.9 million won for a 55-inch model and 8.9 million won for a 65-inch model. Compared to premium models that were released two months ago, they are about 1.5 million won cheaper.
