LG to wide gap with rivals with improved OLED TV range

Paik Seon-pil, Vice President of TV Customer Experience Division at LG Electronics (LG Electronics)

BERLIN — LG Electronics, the No. 1 dominant company in the OLED TV market, said on Saturday it aimed to further widen its gap with rivals by offering a more diverse product lineup that meets different consumer demands.

According to market tracker Omdia, Europe is the biggest market for OLED TVs, accounting for more than 50% of global shipments. In the region, LG’s market share was 65.8% in the first half of this year, followed by Sony with 17% and Philips with 11%.

In a bid to further cement its leadership in the booming OLED TV market, LG unveiled two new models, including the world’s largest OLED TV and a foldable OLED TV for gamers, at this year’s IFA.

The company launched the world’s largest 97-inch OLED evo Gallery Edition at Europe’s biggest tech gathering. Scheduled to be released in the fourth quarter of this year, the new TV is the latest addition to LG’s OLED lineup, ranging from the smallest 42-inch model to larger models with gigantic screens.

The TV panel is less than 3 millimeters thick, which allows the TV to be fixed to the wall with almost no gap in between.

In addition to the quality of the panel produced by its sister company LG Display, LG’s competitive advantage is its own high-end processor exclusively designed for its OLED TVs. The AI-powered processor, called Alpha 9 Gen 5, has significantly improved the video and audio quality optimized for the OLED display.

“The finalists may be able to catch up on TV production, but when it comes to processors, we have the upper hand,” Paik Seon-pil, vice president of LG’s TV customer experience division, told reporters. reporters in the LG showroom.

However, after the high-profile debut of the 97-inch model, Paik stressed that the company has no plans to roll out a larger screen model, citing marketability and efficiency.

“Even the 97-inch model isn’t targeting mass market adoption,” he said, adding that the popularity of the 65-inch and 75-inch models is expected to remain robust for some time globally.

“As for the larger models, we offer micro LED models whose modular concept allows for more flexibility.”

Another unique offering from LG during IFA was the Flex, a foldable 42-inch OLED TV.

LG has seen a recent surge in sales of its 42-inch and 48-inch OLED TV models, largely due to growing demand from gamers who want to enjoy games on a bigger screen for more immersive viewing.

Following close consultation with professional gamers, the primary TV targets are console gaming enthusiasts, who make up nearly 60-70% of gamers who enjoy gaming on TV screens. Other gamers who enjoy shooting games may still prefer smaller screens, the demand of which can be met by LG’s other PC monitors.

“The gamer market has huge potential, but remains a niche market with annual sales of 50,000 to 100,000 units,” he said. “As the television market is rapidly saturated, creating new segments will differentiate us from our competitors, helping us consolidate our market leadership.”

By Lee Ji-yoon ([email protected])

Previous Global Growth Concerns Play Spoilsport Index Tanks 563 Po...
Next MBA to Watch 2022: Allegra Porter, Emory University (Goizueta)