Television brands find Vietnamese market tough going

Before the latest withdrawal of Vinsmart, Japanese giants like Panasonic, Toshiba, and Sharp also dropped out of the Vietnamese television market.
Television brands find Vietnamese market tough going ảnh 1 Vsmart televison. (Photo techz.vn)
Hanoi (VNS/VNA) - Before the latest withdrawal of Vinsmart, Japanesegiants like Panasonic, Toshiba, and Sharp also dropped out of theVietnamese television market.

Panasonic, Toshiba and Sharp televisions are no longer found at largeelectronics supermarket chains.

Online news outlet zing.vn quoteda Toshiba representative as saying that they had stopped selling televisions inVietnam and focused on other household electronics products.

Panasonic also announced it would stop producing low-cost televisions at factoriesin India and Vietnam to cut costs and restructure its business operations atthe beginning of this month.

Like Sharp, Panasonic sold only a few television models in Vietnam from2018 and 2019 with old technology and at clearance sale prices.

Panasonic previously discontinued its plasma television line and closedtelevision production lines in the US and China. It currently holds 1.8 percentof the global television market share, according to analysis firm Omdia, and isonly making money from growth in the Japanese market.

Pham Van Tam, chairman of the board of directors of Asanzo, once assessed thatthe television is no longer a key product of electronic businesses. He saidfirms only launched new products to maintain market share and brand, most haveshifted to refrigeration, water purification and air purification.

Most recently, Vingroup halted the production of TVs and smartphones to focuson the development of its internet-of-things and infotainment segments forVinFast cars.

"The production of smartphones and smart TVs (Vsmart) is no longer able todeliver breakthroughs and added-value for consumers.

"We have decided to instead invest in the development of smart vehicles,smart home and smart city solutions, areas in which we are confident we can deliverexcellent customer experience and value," said Nguyen Viet Quang ViceChairman and CEO of Vingroup.
Meanwhile,a representative of Sony Vietnam told Zing thatthe firm planned to focus on the large-screen television segment and competebased on technology and product quality.

Over the years, this company and other big names such as Samsung, LG andChinese and Thai television brands like TCL, Mobell, Falcon, and Casper havelaunched many new products and technologies.

A representative of Samsung Vietnam said the company had outlined a strategy tomaintain its leading position in the 8K market while diversifying the QLEDproduct range and expanding the market for lifestyle television lines.

The latest report of research firm GfK said the three brands that led thetelevision market in Vietnam were Samsung, Sony and LG by the end of the thirdquarter of last year. Of which, Samsung accounted for the largest market shareat up to 44.7 percent.

However, while Samsung and LG have increased their market share by 1-5 percent eachyear since 2018, Sony's market share is gradually getting smaller, from 32.6percent in 2018 to 25.9 percent at the end of September last year.

This report also showed that the large screen television market at 55 inchesand above tended to grow strongly despite the COVID-19 pandemic.

Vietnamese consumers bought 919,300 televisions in this segment by the end ofSeptember last year, up 29 percent compared to 2017./.
VNA

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