Sony's battery troubles could turn into windfall for Korean firms
Sony's battery recalls could help boost sales Korean battery makers. Following the recalls of Apple and Dell notebooks batteries, Korean newspapers are betting that their hometown favorites such as Samsung will gain market share.
Sony is currently the number 2 rechargeable battery maker in the world, but has been hit with two recalls by Apple and Dell. Dell recalled more than 4.1 million batteries last week and Apple recalled 1.8 million batteries a little later. According to the Chosun Ilbo, one of South Korea's largest newspapers, the recall will cost Sony up to 30 billion yen.
Lee Kwang-hoon, an analyst at Hanwha Securities, told Chosun Ilbo that Samsung SDI and LG Chem, the third and sixth largest battery manufacturers respectively will move up in market share in the second half of this year. Kwang-hoon expects Samsung SDI to take the number 2 spot away from Sony.