Korean firms set to lead rechargeable battery market

Korea’s rechargeable battery makers are set to dethrone their Japanese rivals in the global market this year as they bask in surging orders of largely digital mobile gadgets and cost competitiveness stemming from the weaker currency.

According to industry experts, an alliance of the two Korean electronic giants, Samsung and LG, have been in hot pursuit of Sanyo and Sony, which have long dominated the global market. The Korean firms, however, are likely to expand their presence in the global market as the explosive popularity of IT products such as smart phones continues.

Samsung SDI which provides rechargeable battery products for Apple’s iPad and iPhone and Samsung Electronics’ Galaxy S will take the No.1 title from Sanyo this year, experts predicted.

A lithium-ion battery is a type of rechargeable battery mainly used in portable electronics such as laptops and mobile phones, but they are increasingly being used to power electric or hybrid cars.

Last year, Japan’s Sanyo held 20 percent of the market followed by Samsung SDI Co. and LG Chem Ltd., with 19 percent each, Japan’s Sony Corp. with 12 percent and China’s BYD with 7 percent. Korea, Japan and China control 95 percent of the global production of small rechargeable batteries used in portable electronic devices, such as mobile phones.