JVC Taps Into Premium A/V Market

As part of efforts to achieve new marketing initiatives, JVC Korea released liquid crystal display (LCD) TVs and DVD compact components featured with the world’s first wood speakers on Wednesday.

“The new products reflect the latest consumer trends in Korea. Consumptions here become polarized and personalized,” JVC Korea President Yoshio Ideguch said in a meeting with reporters on Tuesday at the Westin Chosun Hotel.

“We expect the products to satisfy wealthy consumers who place a high value on individuality.”

JVC jumps into the rising Korean LCD TV market where Korean giants are dominant as the second strongest Japanese electronics company after Sharp.

The new DVD compact component targeting high-income level adults will strengthen the high-end audio product lines together with upcoming home theater products.

“JVC’s LCD TV has the competitive edge over local competitors in distinction and sound, both of which have traditionally been strong points for JVC,” he said.

Besides the change in consumer trends, the recent plunge in consumptions has lead JVC Korea to the high-end audio-visual market.

The company has focused on selling digital camcorders and mini-components at affordable prices since 2000 when it entered the local market. It has avoided fierce competition with local electronics giants.

As middle income-level consumers have tightened their belts due to the recent economic slowdown, sales of the company are expected to fall by 30 percent last year over 2002.

Sales of JVC peaked in 2001 with 84 billion won and dropped to 78 billion won in 2002.