LG sets sights on significant OLED TV expansion

Brian Kwon

LG has outlined plans to “significantly expand” the market penetration of its OLED TVs this year, as it unveiled an extended lineup of OLED TVs at the Consumer Electronics Show in Las Vegas. 

Speaking at a media roundtable at CES, the new executive vice-president and CEO of the LG Home Entertainment Company, Brian Kwon, said he is looking increase the company’s investment in OLED technology, with sister company LG Display having already pledged KRW700 billion to upgrade its manufacturing facilities to produce larger OLED panels.

Kwon said that LG aims to consolidate a global manufacturing system dedicated to OLED production in North America, Central and South America, Europe and Asia.

He added that LG aims to improve the price competitive of its OLED TVs by using improved components and advanced manufacturing technologies and creating better synergies among LG affiliates.

“In 2014, LG focused on gaining business momentum and positioning itself for the future by actively promoting our flagship OLED TV lineup. This year, we intend to significantly expand the market penetration of LG OLED TVs which have been receiving superb reviews as the next generation TV,” said Kwon.

He claimed that LG is “determined to create further growth momentum in next-generation home entertainment business areas by providing innovative solutions and services” – including OLED TVs and Ultra HD TVs.

“At the same time, we’ll enhance the convergence strategy allowing us to move toward integrating an array of new Internet of Things solutions that will enable our customers to connect their TVs to multiple devices more seamlessly,” added Kwon.

At CES LG expanded OLED TV lineup with seven different new 4K OLED TVs, including flexible, curved and flat models ranging from 55 to 77-inches in size. All of LG’s 2015 4K OLED TVs feature webOS 2.0, the latest version of LG’s proprietary smart TV platform, which it also unveiled at CES.