LG Electronics is planning to expand its aggressive OLED TV market this year to keep pace with the global premium TV market with OLED (Organic Light Emitting Diode).

Kwon Bong Seok- HE division Vice president of LG Electronics in ‘LG TV new products of 2017’ at Seocho R&D campus of Yangje, Seoul on February 23, stated that ‘we will focus on the high-end TV market this year with the two-track strategy of ``Super Ultra HD TV based on organic light emitting diode (OLED).’ In particular, LG Electronics is aiming to become the foundation of popularization of OLED with OLED E, B, and C series such as ``LG Signature OLED TV W series`` and ``G series``.

LG has also introduced ``Super Ultra HD TV`` in which ``nanocell`` technology was applied that utilizes the micro-molecular structure of about 1nm size. Super Ultra HD TV is a liquid crystal display (LCD) TV that improves color accuracy and color reproduction. Considering that OLED TV prices are up to 1.4 times higher than LCD premium TVs, LG decided to strengthen the LCD TV product line so that consumers can easily purchase them.


Vice President Kwon stated that ‘The premium products, LG Signature TV W Series and G7 models are maintaining the same price range as last year. And only products that are classified as low-end products have been priced at about $ 500 within OLED product category, which is lower price than last year’.

Vice president Kwon also stated that ‘With this strategy, we have achieved 1.5 times the sales target for all. The sales of OLED TVs are growing rapidly and the proportion of LG Electronics in total TVs is increasing accordingly. If it was 10% last year, it seems that it will account for more than 15% this year. LG Electronics’ strategy is to display the first ultra-premium OLED TV and to maintain its brand image and profitability, while lowering the price range. According to experts’ analysis LG will match Samsung Electronics`` premium product ``QLED TV``.

Vice president Kwon empathized that ‘This year LG Electronics`` TV business is planning to create a solid position in the premium TV market with OLED TV, which is a differentiated category. At the same time, Nanocell LCD TV is the most accurate and rich image quality TV. It is a product that can express high quality and will strengthen our position in the market.’

By Kim Eun silverkim@dt.co.kr


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