[THE INVESTOR] LG Electronics Inc. said on April 15 it will start global sales of the 2018 editions of organic light-emitting diode TVs.
The South Korean tech giant said the new OLED TVs will hit the US market on April 16 and gradually expand to countries in Europe, South America and Asia down the road.
LG Electronics said it will display the OLED TVs at some 500 branches of US retailer Best Buy, showcasing the company's latest Alpha 9 processor that delivers improved resolutions by optimizing color through AI technology.
The company said the global market for OLED TVs is expected to reach 2.5 million units this year, rising sharply from 1.6 million units in 2017.
In response to the rising demand, LG said it plans to expand the portion of OLED TVs in its portfolio to 20 percent in 2018, up from last year's 15 percent.
LG Electronics said the OLED TVs are capable of delivering enhanced color as each pixel emits light without having to use backlights.
The plan comes as Samsung Electronics Co., LG's bigger South Korean rival, employs LCD technology that uses backlights for its premium QLED TVs.
By Song Seung-hyun and newswires (email@example.com)