MGN Solution is promoting the supply of core TV-related components in collaboration with Musem (MUSEM), the development vendor of the world's No. 1 TV manufacturer.
On the 1st, MGN Solution announced that it had signed a business cooperation and joint research and development agreement with Musem.
According to the company, Musem develops and manufactures coil magnetic components such as inductors and transformers through its own patents and supplies them to Samsung Electronics, LG, TCL, and others. Inductors and transformers are core components used in all TV products. These components are used from older TV models to the latest premium TV products.
Through this contract, MGN Solution plans to jointly use all patents and technologies of Musem and supply coil magnetic components to global TV manufacturers. In addition, it will maintain a close cooperative relationship with Musem and jointly engage in future research and development.
The two companies previously signed an MOU (Memorandum of Understanding) and promoted the establishment of MGN Solution's Vietnam factory. This factory, aimed at promoting the supply of coil magnetic components, is scheduled to be completed within this year and begin mass production.
A company official said, "According to Musem's internal investigation, the coil magnetic component market that we are entering is estimated to be worth 320 billion KRW based on the three major global TV manufacturers," adding, "The global market size for 85-inch TVs grew from about 180,000 units in 2019 to 1.87 million units last year, showing a remarkable growth rate of 938%."
He continued, "Following the trend of 'the bigger, the better' for TVs, the global ultra-large premium TV market is rapidly growing," and added, "Major TV manufacturers are also focusing on developing ultra-large products targeting this market."
He stated, "We have the advantage and references to produce customized components for all TV products," and said, "Since the unit price of components for premium TVs is higher than that of existing TVs, it is expected to contribute to performance growth, and we will increase our market share targeting the global TV and home appliance markets."
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