South Korea’s tech major LG Electronics is set to launch the world’s first 55-inch OLED (organic light-emitting diode) TVs in May this year. Prices of the OLED TVs will be set at approximately nine million won ($7,928.91), and the OLED TV will be unveiled in Cannes, France where a movie premier will be held. LG aims to take the lead in the OLED TV market by launching OLED TVs ahead of its rivals.
“LG Electronics decided to arrange the launching event of its 55-inch OLED TV during the Cannes Film Festival period from May 16 to 27,” an LG official said Thursday. “Starting in Europe, the company plans to advance marketing activities of its OLED TVs worldwide”.
LG Electronics initially had planned to launch OLED TVs in the second half (H2) this year. However, LG’s management decided that the company should release OLED TVs ahead of its competitors in order to take the leadership in the market and benefit from seasonal demand during the London Olympic Games from July 28 to August 12, and the company determined to move up the schedule to May.
“In order for LG to take the lead in the OLED TV market, LG should roll out OLED TVs earlier than it planned,” LG Group Chairman Koo Bon-Moo recently requested. “Speed up the research and development (R&D) to commercialize OLED TVs ahead of schedule”. LG’s rival Samsung Electronics is likely to launch 55-inch OLED TVs before the Olympics.
Meanwhile, the OLED TV market is expected to grow from 570,000 units in 2013 to 3.68 million units in 2015 and 11.93 million units in 2017, according to market researcher DisplaySearch’s estimate.
[Written by Seung-hwan Jeong - Ha’eun Bang / edited by Soyoung Chung]
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