[THE INVESTOR] Global heavyweight LG Electronics bases much of its market prowess in its organic light-emitting diode technologies that have led to successes in both industrial and commercial businesses.
Most recently at the Integrated Systems Europe show held in Amsterdam this week, the company revealed a series of signage and transparent displays for enterprise use.
The main highlights of the exhibition included a transparent 55-inch (140-centimeter) OLED display, open frame OLED displays and the Even Bezel Video Wall.
“We are extremely proud of our leadership in the global B2B signage industry but even more proud that we are able to consistently offer such creative solutions for our vertical customers,” said Koo Kwang-mo, head of the Information Display business unit of LG Electronics B2B Company.
OLED, whose self-lighting pixels allow it to be made into much thinner and flexible forms than LED, has especially been touted for its potential for enterprise use because of its customizable qualities.
For instance, the LG OLED Twister showcased at ISE is an open-frame display whose curvature can be changed even after installation, allowing enterprises to create convex, concave, or even V-shaped configurations for their display needs.
The Even Bezel Video Wall, which is just 0.6 millimeters thick, offers minimal distractions with its ultra-narrow bezels, “making this product ideal for advertising high-end products in fashion and beauty,” according to LG.
In terms of commercial business, LG aims to double the sales of OLED TVs with its new 55-inch OLED TVs and AI-powered TVs this year.
LG plans to deliver around 5 million units of OLED TVs by 2020 to lead the high-end market that is seeing a major boom worldwide, with 15 companies having joined the OLED alliance.
As consumers increasingly turn to smaller screens such as smartphones for basic video viewing and with Chinese brands taking over the low-range market, companies such as LG are focusing their energies on the premium TV market -- where OLED is quickly gaining ground.
According to numbers from research firm IHS Markit, OLED TVs made up nearly half of all premium TVs over US$2500 sold in 2017, up from 15.5 percent in 2015 and 35 percent in 2016. LG currently holds the second-largest market share in premium TVs according to this research, behind Sony.
At the Consumer Electronics Show held in Las Vegas in January, LG picked up the Best TV Product Award for the fourth consecutive year for the LG AI OLED TV.
The TV comes with Google Assistant built in and works with LG‘s artificial intelligence system ThinQ, allowing users to use voice commands to operate the TV as well as search online and pull up media from their Google-connected phones.
During the LG Innofest held this week at the Palais des Festivals in Cannes, southern France, the tech giant showcased a wide range of LG products equipped with its AI platform, DeepThinQ.
The TV will play an important part in building up an in-home ecosystem of connected devices including air conditioners and air purifiers, which will allow users to manipulate all of their home appliances through Wi-Fi and customize settings to their personal needs through the ThinQ artificial intelligence system.
In a conference call announcing the company’s fourth-quarter performance, the company said that it will be focusing on solidifying its premium position in the TV market and increasing market share rather than the absolute number of sets sold.
“We expect that the entire OLED TV market will grow to about 5 million sets by 2020,” an official with the company said in the conference call.
By Won Ho-jung/The Korea Herald (firstname.lastname@example.org)