LG bolsters premium TV maker image with OLED TVs

LG bolsters premium TV maker image with OLED TVs

LG Electronics unveiled a new line-up of organic light emitting diode (OLED) TVs, ranging in size from 42 inches to 97 inches as part of its efforts to bolster its image as a premium TV maker.

Park Hyoung-sei, head of the company's Home Entertainment (HE) Division, said that OLED TVs with various sizes can expand consumer choice, while providing existing users with different experiences whether using the screens as a second TV or for games.

"We have developed new products to maximize customer value. They are released in various form factors and are able to deliver the best picture and sound quality,"

Park also added during an online conference, adding that the newly launched OLED evo TVs come in 11 models of different sizes.

LG is the second-largest TV maker in the global market, following Samsung Electronics. With these new models and other TV products, the company aims to secure a market share of around 23 percent in the global TV market in 2022.

"I don't want to disclose the sales target, but our market share is expected to be 23 percent this year.

Since the premium TVs worth over $1,500 increased by 4 percent year-on-year last year, we will continue to expand our share in the premium TV market this year as well with OLED TVs,"

Park also shared his opinion about speculation that LG's arch-rival Samsung may launch its own OLED TVs soon.

"I have not yet heard that Samsung Electronics will officially join the OLED market. But more than 20 TV makers have joined the OLED market and if Samsung Electronics enters, it will become a positive factor for expanding the OLED ecosystem,"

In regard to the view that the COVID-19 effect, which has buoyed TV sales during the past two years, may end this year, Park said:

"The pandemic is prolonged and consumers are still spending a lot of time at home. We estimate that demand for OLED TVs will increase even more because they reduce eye fatigue and deliver better picture quality.

News Source: Korea Times

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