Korea’s Samsung and LG TV Prices Are 2~3 times Expensive than Those of USA’s
In this article (5)
During the Black Friday event in the United States in November 2015, Samsung Electronics’ 55-inch SUHD TV was sold at a price of 1.15 million won. This was when it was sold at a price of around 3 million won at retail stores in Korea.
LG Electronics’ 65-inch UHD TV was sold at a price of around 5 million won in domestic consumer electronics stores, much higher than its U.S. price of 2.43 million won.
The prices of consumer electronics items are staying high in Korea. The average domestic sales prices of TVs, smartphones, laptop computers, tablet computers, vacuum cleaners, and coffee makers are higher than those of major industrialized countries, including the United States, Germany, and Japan. This is the background behind last year’s 20-percent increase in Koreans’ online purchase of foriegn products.
Most of Korean home electronics items come equipped with “excessive features.” Unlike major foreign home electronics companies which focus on core functionalities, Korean counterparts are raising the prices of their products by adding a variety of high-end specs.
Questions & Answers
Q.What was the price difference for the Samsung 55-inch SUHD TV between Korea and the USA during Black Friday 2015?
What was the price difference for the Samsung 55-inch SUHD TV between Korea and the USA during Black Friday 2015?
In November 2015, the Samsung 55-inch SUHD TV cost 1.15 million won in the USA during Black Friday. The same model was sold for approximately 3 million won in Korean retail stores at that time.
Q.What is cited as a reason for higher electronics prices in Korea compared to other countries?
What is cited as a reason for higher electronics prices in Korea compared to other countries?
Korean home electronics items are often equipped with 'excessive features'. Companies add a variety of high-end specifications to their products, which raises the overall price for consumers.
Q.Did higher electronics prices in Korea affect consumer behaviour?
Did higher electronics prices in Korea affect consumer behaviour?
Yes, the high prices of consumer electronics in Korea led to a significant change in purchasing habits. Last year saw a 20-percent increase in Koreans buying foreign products online.
Q.Which types of electronics are generally more expensive in Korea than in other major industrialised nations?
Which types of electronics are generally more expensive in Korea than in other major industrialised nations?
The average domestic sales prices are higher in Korea for TVs, smartphones, laptop computers, tablet computers, vacuum cleaners, and coffee makers, compared to countries like the United States, Germany, and Japan.
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