Consumers win in LCD price wars

Competition in the liquid crystal display, or LCD, television market is reaching fever pitch, as Chinese and Japanese companies adopt ever more aggressive pricing strategies. According to Danawa, a Web site that compares the prices of electronic products, the price of a 32-inch LCD television made by the Chinese company Haier Group Co. has fallen to as low as 990,000 won ($955). A similar model by Korean electronics companies retails for between 1.3 million won and 1.5 million won. While the price of Haier’s television includes delivery and installation, customers need to pay another 300,000 won for a set-top box receiver. Sony, which is riding a wave of popularity in the North American market with its BRAVIA LCD television range, is holding a discount event that cuts the price of its LCD televisions by as much as 700,000 won. To celebrate the launch of the BRAVIA in the Korean market earlier this month, Sony is retailing a 32-inch LCD television that usually goes for nearly 3 million won at 2.7 million won. Also, a limited number of 40-inch LCD televisions will be sold at 4.3 million won, 690,000 won less than the usual price. While BRAVIA is up to 500,000 won more expensive than televisions offered by Samsung Electronics Co. and LG Electronics Inc., it is said to have an edge in picture quality. “Haier’s tactics will force competitors to introduce LCD televisions for less than 1 million won,” said an industry source, who requested anonymity. by Kim Chang-woo