Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.
LG rolls out brighter, clearer OLED TV
Jung Jae-cheol, second from left, head of LG Electronics' Home Entertainment Research Center, poses with executives and the company's OLED TV during a press conference at its R&D Center in Seoul, Wednesday. Courtesy of LG Electronics
By Baek Byung-yeul
By Baek Byung-yeul
LG Electronics is set to solidify its leading position in the OLED TV market as the TV maker launched new OLED TVs including the OLED evo TV which is 70 percent brighter than other OLED TVs, the company said Wednesday.
“OLED TV is a representative example of LG Electronics' constant efforts to better the life of customers. We are confident that the way customers watch TV has completely changed with OLED TVs,” Jung Jae-cheol, head of the company's Home Entertainment Research Center, said during a press conference at its R&D Center in Seoul.
The company held the new product unveiling event at the R&D Center, the same location where it introduced the industry's first OLED TV in 2013. On the occasion of the 10th anniversary OLED TVs launch, LG showcased 29 OLED TVs for this year.
Among the new products, LG said it applied brightness improvement technology to the 65-inch OLED evo TV. The new TV is up to 70 percent brighter than OLED TVs with the same screen size and reduces screen reflection. The new product is also equipped with the sixth generation of artificial intelligence (AI)-based Alpha 9 processor chip.
This year's TV lineup has also been strengthened by their variety of sizes. Customers will be able to purchase OLED TVs ranging in size from 42-inch to 97-inch models. The company added LG is the only company that releases OLED TVs with a screen size larger than 90 inches.
“The past decade has been a very important time for us. LG is now recognized as the most famous OLED TV maker, accounting for more than 60 percent of the global OLED TV market,” Jung said.
Though the global TV market will experience a tough time this year due to inflation and other negative global economic factors, LG said the company aims to increase its shares in the premium TV market in 2023.
"Many market trackers estimated that the number of TV sales is expected to decrease this year, following the sharp decrease in 2022. The market itself is expected to witness reverse growth but we forecast that our TV business could increase slightly compared to last year,” SP Baik, vice president of the TV Product Planning division at LG, said.
He added such a plan could be possible thanks to the rising popularity of OLED TVs sold at a higher price than regular TVs.