Korea's Number 1 Global Items Drop from 7 to 5 in One Year... Falls to 4th Behind US, China, and Japan
Nihon Keizai Shimbun '2020 Major Products and Services Market Share Survey'
Samsung Electronics Ranks First in 5 Categories
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[Asia Economy Reporter Kwon Jae-hee] Korean companies have lost their top positions in major product categories where they once held the world market share number one to Chinese companies. As a result, Korea slipped from a joint 3rd place with Japan last year to 4th place this year in the ranking of countries holding the most number one product categories worldwide.
According to the "2020 Major Goods and Services Market Share Survey" published on the 6th by Nihon Keizai Shimbun, which annually investigates the world market share of about 70 product categories, Korean companies ranked first in five fields: smartphones, DRAM, organic light-emitting diode (OLED) panels, NAND flash semiconductors, and ultra-thin TVs. Samsung Electronics led all five categories.
In sectors where Korean companies previously led, such as large LCD panels and shipbuilding, Chinese companies took the top spot. In shipbuilding, China State Shipbuilding Corporation (CSSC) rose by 8.5 percentage points to capture first place with a 17.2% market share, while Hyundai Heavy Industries fell by 1.4 percentage points to 15.3%. Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering ranked 3rd and 4th with 7.6% and 7.3%, respectively. In the large LCD panel sector, once dominated by LG Display, the top position was taken over by BOE, China’s largest display manufacturer. BOE increased its market share by 2.2 percentage points in one year to 22.9%, while LG Display dropped 6.7 percentage points to 17.2%.
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Meanwhile, Chinese companies stood out by holding over 30% market share in 15 product categories. Among the 70 categories, the United States led the most with 24 categories ranked number one. Japanese companies led in only 7 out of the total 70 categories.
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