The Chinese TV market is showing signs of recovery with 22 percent hike in daily sales on Nov. 11, Chinese version of Black Friday, said analyst Kwon Seong-ryul.
OLED TVs are playing a major role in pulling the market out of slump and although it still has a relatively small share it is a key premium product, explained the analyst.
LG Display’s TV panel shipments will jump to 1.70 million from last year’s 903,000 and will further advance to 2.53 million next year, according to Kwon. Although, to begin manufacturing panels for large OLED TVs in its factory in Guangzhou, China, it needs approval from the government and needs to grab the opportunity with fast decision making, added the analyst.
By Hwang You-mee (firstname.lastname@example.org) LG Display will gain as the TV market in China picks up with strong OLED TV sales, said DB Financial Investment on Nov. 28, raising the target price to 40,000 won (US$36.89) from 37,000 won.