BERLIN, Sept. 3 (Yonhap) -- Samsung Electronics Co. will continue to develop Micro LED technology to maintain its leading position in the premium TV market, a TV executive has said at the IFA tech trade show in Berlin.
"We see Micro LED as our strategic display panel of the future," Chung Kang-il, vice president and head of Samsung visual display division's future planning group, said at a media briefing Friday.
"We believe Mirco LED is a (ultimate) display solution that can overcome the shortfalls and limitations of most display panels out there," he added.
Samsung's Micro LED display enables a "top-level quality thanks to 25 million micrometer-sized LEDs that individually produce light and colour," according to the company, offering an immersive viewing experience through "impressive depth, vibrant colour and a heightened level of clarity and contrast."
At IFA 2023, the South Korean tech giant showcased Micro LED TVs, Samsung's highest premium TV, in 140-, 114-, 89- and 76-inch sizes.
With prices of Micro LED TVs being significantly higher than OLED or QLED TVs, Samsung has been working to lower the production costs of Micro LED TVs, Chung said. Micro LED TVs typically cost over US$100,000.
But he admitted cutting such costs hasn't been easy, and it has been taking longer than previously expected.
"We are trying to lower the prices to affordable levels to make Micro LED our next-generation strategic display," he said, adding that technological advancements in Micro LED would ultimately enable the company to cut costs.
Samsung's share in the TV market for sets 70 inches or larger jumped to 20.2 percent in 2022 from 10.2 percent in 2019, according to the company. In the first quarter of this year, Samsung led the 75-inch or larger TV segment with a 36.5 percent market share.
On the contrary, Samsung's market share for the 50-inch or smaller TV segment dropped to 24.8 percent in 2022 from 33.3 percent in 2019 due to intensifying competition from Chinese TV makers.
"Ultra-large, high-resolution TVs are in growing demand," Chung said, "as people's desire for a bigger screen seems to be endless."
"As the ultra-large TV market is expected to continue to grow, we need to strengthen our leadership in the segment."