April 26, 2024

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[THE INVESTOR] LG Electronics has ample opportunity to grow on the back of rising demand for its high-end televisions, said Eugene Investment and Securities on May 18, maintaining a “buy” recommendation and 96,000 won (US$85.20) target price. 

Rising sales of its premium televisions with price competitiveness is improving its profits, and the demand will remain strong throughout the year, said analyst No Gyeong-tak. 

Based on its long history of selling OLED TVs, LG has built up a wide range of products and prices, and has an edge as its affiliate LG Display is the only manufacturer of OLED TV panels, said the analyst.

OLED TV has many strengths in image quality, thinness, and power consumption, and there is almost no price difference with LCD televisions, pointed out the analyst. 

He forecast that about 1.05 million units will be sold this year and buoy the home appliance division’s profits. 

By Hwang You-mee (glamazon@heraldcorp.com)