Chinese TV Makers Growing More Competitive

Chinese manufacturers have recently chipped away at Korea's tight grip on the smartphone market, but apparently they're encroaching into other sectors as well.

Research firm DisplaySearch says three Chinese manufacturers -- Lenovo, LeTV and Xiaomi -- recently released televisions at extremely low prices, some up to 30 percent cheaper than competitors.

Xiaomi, for example, is selling a 49-inch Ultra high definition TV for around US$650. That's about four times lower than similar-class models offered by Korea's tech giant Samsung.