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S. Korean tech firms brace for competition from China

2018/02/09 10:28

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SEOUL, Feb. 9 (Yonhap) -- South Korea's major tech companies are bracing for stiffer competition from China as the country's BOE Technology Group is reportedly preparing to supply large display panels in the coming months.

BOE's 10.5-generation production line in Hefei, capital of the eastern Anhui province, is set to enter mass-production of 65-inch and 75-inch liquid crystal display (LCD) panels in the first quarter, according to industry tracker WitsView.

BOE's plan could deal a blow to Samsung Electronics Co. and LG Electronics Inc. -- the two major South Korean tech giants -- and their strategies to expand their presence in the premium television sector.

WitsView said an increased output in large-size TV panels could lead to a cut in prices of large LCD televisions. It also said the growth of high-end QLED TVs and organic light-emitting diode (OLED) TVs may experience some restriction for the time being due to high production costs.

QLED is a marketing acronym Samsung Electronics has come up with for its high-end LCD TVs that use quantum-dot technology. Quantum-dot sets are an improvement on existing LCD technology, which the majority of current TVs use.

Last year, LCD TVs held a market share of 98.1 percent in the high-end television market, while QLED TVs and OLED TVs had a market share of 1.2 percent and 0.7 percent, respectively.