Chinese brands set to rank highly in global TV market
DetailsEditor | 02 January 2015
Even though the market may be currently dominated by Korean global brands, the TV market in 2015 is set to see the emergence of Chinese TV makers says research from AVANTI.
105 inch CURVED UHD Tcober pic 2VThe analyst predicts that in 2015, Samsung and LG may surpass 40% global market share, squeezing the market shares of Chinese and Japanese TV brands. But it also notes that within the China market, Changhong, TCL and Hisense still possess an absolute geographical advantage in terms of brand image and visibility.
According to the research when brands are not prompted when mentioned, China's Top 6 brand's Changhong and TCL ranked first and second among China consumer's brand awareness at 47% and 46%, respectively. Hisense and Haier share third place at 37%. In terms of international brands, Samsung fares the best, with 36%, leading far ahead of other international brands. On the other hand, when brand names are prompted and mentioned, the brand visibility of China's six major brands are all over 70%, while Samsung is the only international brand that reaches 71% of brand visibility.
It is notable that even though the local China brands are more familiar among the Chinese consumers, international brands such as Samsung, Sony and Sharp are all having higher ratings than the local China brands in terms of brand loyalty, satisfaction rate, attractiveness, assessment and willingness to recommend the brand. The result, says the analyst, has reflected the fact that international TV brands are currently superior to the China brands on competitiveness factors, including product quality, exterior design, brand awareness and service after purchase.
"China's LCD TV market began its accelerated growth starting from 2009, and currently, it is close to saturation, forcing the China brands to actively expand its overseas market," said KK Chang, Research Manager at AVANTI sister company WitsView. "How to keep expanding overseas market under the domestic competitions will be a current challenge for China TV makers," added Chang.
To reach a breakthrough beyond these difficulties, AVANTI said that China TV brands should not only to improve manufacturing and production cost advantages by strengthening the vertical integration capacity of upstream, mid-stream and downstream supply chains, but to expand their marketing scale in order to establish international brand images, solidify sales channel system, provide comprehensive after sales service mechanisms, strengthen product exterior design and diversified applications. And to further advance the brand's service satisfaction rate, they should establish consumer behaviour databases to analyse and predict the consumer behaviour models and preferences.