Korean mp3 players lead the way
Korea's mp3 player makers now have the lead in global market share, says Digital Chosun Ilbo here.
Why's that?
"Korean companies' technology and design are better than that of their U.S and Japanese competitors," says the report. "Only Korean makers can produce MP3 players half the size of a business card and with a sophisticated design, which can store as much as four hours of music."
But Korean producers shouldn't get too cocky, says the newspaper, because, "Chinese competitors are following close behind, with an edge in price competitiveness. Sony has also stepped up its development of MP3 players."
Korean companies had 35% to 40%of the global market in 2003 with Digital Way and Reigncom boasting the largest market share in the United States and in the European Union.
"Best Buy, an electronic goods chain store with 650 locations across the United States, is the first target for makers of electronic equipment wanting to make inroads into the country," the story continues.
"In a Best Buy store on Mira Mesa Boulevard in San Diego on Dec. 3, Digital Way's 'mpio' MP3 players were sold out, while other companies' players were still on the shelves. A sales person said that Korean MP3 players are popular because they have a beautiful design and good quality, as well as a low price. Insufficient supply is the main problem, he added."
Digital Way accounts for 22.4% of U.S. market and 37.2% of the Canadian market, dominating the market for MP3 players in both countries, states Digital Chosun Ilbo.
"Korean MP3 player producers have been successful in part thanks to the great popularity of the Internet in Korea since the late 1990s," it adds.
"As the exchange of music over the Internet and email gained popularity, the demand for small portable audio equipment dramatically increased. In Japan, where the Internet has been comparably less popular, companies have overlooked the growth potential of MP3 players and have been following Korean companies in the world market."
(Wednesday 31 December 2003)
