Samsung has officially confirmed that it will no longer sell TVs, monitors, projectors, audio products and other home appliances in China.
The world's largest TV maker is withdrawing from the world's biggest TV market, leaving local players such as Hisense, Skyworth and TCL to compete for dominance in China.
- "In response to the rapidly changing market environment, after careful research, Samsung Electronics decided to stop selling all household appliances, including TVs and monitors, in the mainland Chinese market," Samsung China announced this week (machine translated).
Samsung's TV lineup for China was expansive with 'micro RGB', 'Neo QLED', 'QLED' and 8K LCD models, lifestyle models like The Frame and OLED TVs.
Also monitors, audio, projectors, more
While Samsung will continue to sell smartphones in China, it is discontinuing most other consumer electronics products.
- "What are the home appliances involved in business adjustment? Including TVs, monitors, large commercial monitors, air conditioners, refrigerators, washing machines, dryers, laundry and clothes driers, clothes care machines, audio, projectors, vacuum cleaners, air purifiers and other household appliances," Samsung China's FAQ reads.
What happens now?
Samsung's decision comes as a surprise, although rumors have circulated for some time that non-Chinese TV brands have been struggling to compete on price, features and consumer sentiment in the local market.
Samsung's TV position had already fallen to fifth place, with its market share down to just 3.6%, according to market research firm AVC (Aowei Cloud Network). Around 33 million TVs were shipped in China last year.
Also read: Sony-TCL partnership could reshape the TV market
Over the past decade, Samsung's position has steadily declined as Chinese brands have gained ground, now collectively holding around 94.1% of the market as of April.
Samsung's exit could further strengthen Chinese TV makers and potentially help TCL become the world's largest TV maker by volume, after it briefly overtook Samsung in December. It also sends a worrying signal to other foreign TV brands in China, given Samsung is generally regarded as one of the most competitive global players in the TV market.
- Source: Samsung China
