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Samsung will quit oversea LED lighting market

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Samsung will quit oversea LED lighting market
South Korean media Dong-A Ilbo reported on the 27th Oct that Samsung has decided to fully suspend the LED lighting sales and other related businesses in overseas markets, and notice the overseas customers that it will not launch LED lighting and related businesses in overseas markets in the future. According to reports, Samsung will continue its LED lighting business in Korea market, due to the small size of the Korean market, if Samsung exits the overseas market, it will equivalent to quit the whole LED lighting market.

According to Samsung relative officer said, because the severe competition with existing LED lighting manufacturers, besides there is also Chinese enterprises hit the market with low price strategy, it forces Samsung to make the decision, and then Samsung will focus on LED component business.

According to reports, more than 90% of Samsung LED related business revenue is contributed by the "electronic LED component business" which used as backlight in panels. Besides LED lighting business, Samsung's auto LED component market also has little influence, so it is necessary to concern about their auto LED business marketing strategies in the future.

Yonhap reported on Oct. 22 that South Korea Industry Alliance Federation of Korean Industries (FKI) invited the think tanks and Korean brokers such as Kiwoom, Daishin, HI Investment and Securities to analyze difficulties in several industries they will face next year, which predicts the LED products will face fierce competition by Chinese manufacturers.

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Samsung will quit oversea LED lighting market