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The Korea Herald
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THE INVESTOR
March 29, 2024

LG

LG TV chief predicts more than 1m OLED TV sales this year

  • PUBLISHED :February 23, 2017 - 18:09
  • UPDATED :February 23, 2017 - 18:09
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[THE INVESTOR] LG Electronics’ TV business chief Kwon Bong-seok on Feb. 23 showed confidence in hitting the 1 million mark in its organic light-emitting diode sales this year, up 50 percent from a year ago.

“We will increase OLED TV sales 50 percent this year. More than 15 percent of our premium TVs will be OLED models,” Kwon said at a press conference in Seoul, unveiling the company’s new TV lineup this year. 


LG Electronics' TV chief Kwon Bong-seok



LG, the largest OLED TV maker, sold 300,000 and 65,000 OLED TVs, respectively, in 2015 and 2016. Largely buoyed by the OLED TV sales, the company for the first time topped the global premium market for TVs priced over US$2,500 with a whopping 43 percent market share last year.

While its key rivals, including the No. 1 Samsung Electronics, are sticking to upgrading liquid crystal display TVs for better profits, LG has made all-out efforts to elevate the yield rate and reduce the production costs that are crucial to lower the TV prices.

Kwon refuted some skepticism about the mass-market appeal of the pricey OLED TVs, citing new launches planned by 11 TV makers this year.

Market research firm IHS predicts about 1.4 million OLED TV sales this year, saying the figure could surge to 5.2 million in 2020. Industry watchers say more than 50 percent of TV sales in China next year will be OLED models.

By Lee Ji-yoon (jylee@heraldcorp.com)

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