How LG is Doing in the Portable Speaker Market?

How LG is doing in the Portable Speaker Market?

LG has always been one of the popular brands in terms of electronic gadgets. It’s one of the biggest tech giants, which have been manufacturing TV, Refrigerator, AC, and other appliances to make our everyday lifestyle fun, convenient & efficient. They also manufacture some great speakers which can be used in your home or office, and recently they focused on producing portable speakers for people who want to enjoy music while on the move.

LG Electronics officially declared on August 20 2018, that it would turn itself into a leading audio brand. In fact, the company is one of the first audio manufacturers in South Korea. Back in 1959, it released the first domestically produced audio system equipped with five vacuum tubes.

The company is going to apply its XBOOM brand, which has been used for its high-output audio systems mainly in overseas markets, to more products such as wireless speakers and AI speakers. LG Electronics’ main target markets are home audio systems, wireless speakers and soundbars. “The LG XBOOM currently has a share of more than 35% in the global home audio market,” the company explained, adding, “There will be more hands-on zones for the brand in European countries like Britain and Germany so that it can be further promoted.” LG Electronics’ concentration on the market has to do with the fact that the global TV industry is shrinking. According to the company, OLED TVs have achieved an ultimate image quality and no more technical evolution is likely for the time being in the TV market.

“The global TV market is approximately 100 trillion won in size and the size of the global audio market is equivalent to 12% of it, which is far from small,” an LG official said. But LG is still behind in comparison to JBL, Anker, Bose, and Sony in the audio market. Because JBL and Bose are dedicated brands that focus on only producing speakers and headphones. Sony on the other hand is well known for their mirrorless cameras and also studio headphones. Whereas LG lagged behind because of experience & market data.

In recent times LG is trying their very best to improve its speaker’s overall quality. They’ve also collaborated with meridian technologies to make this improvement as fast as possible. Now you might ask, what Meridian Audio Technology is? Meridian Audio is well-known for creating audio systems, and provides exceptional audio experiences, especially for the vehicle with a stereo sound system. Besides, they also manufacture audio systems for Marine & Aircraft. Hope now you can imagine how trusted and well-crafted meridian is!

LG gained popularity when they first released their PK series into the market, consisting of PK3 PK5 and PK7. Amongst them, the Pk7 quickly gained popularity because of its compact elegant design and won many hearts with its punchier bass and clear vocals. All of the speakers were aimed to catch the attention of mass people and offer excellent value for money without a doubt. In addition, these speakers were compact and lightweight which made them favorites to people who wanted to start a party whenever they wanted. That being said, LG is doing pretty good in the audio market but it seems it’ll take a couple of more years before they make it perfect. And if you are someone who is looking for a portable speaker right now you can definitely go for LG!

Leave a Comment