South Korean electronics giant, LG Electronics Inc., has reportedly announced that it will showcase the world's largest OLED (organic light-emitting diode) TV at the upcoming electronics show, IFA 2022 in Berlin.
As per reports, the announcement comes as the firm looks to strengthening its leadership position in the premium TV segment and expand its portfolio of large OLED TVs.
LG has reportedly stated that it will unveil a new 97-inch OLED TV, that it has named the OLED evo Gallery Edition, and other devices at the IFA 2022, which is set to open in Berlin on Friday. According to LG, the model will enter the market in this year’s fourth quarter, which is the peak season for home appliances and consumer electronics amid holiday shopping.
LG also added that the self-lit pixels of these OLED TVs can be individually turned on and off, leading to better form factors, such as rollable and flexible TVs.
The international electronics trade show is scheduled at a crucial time as major tech firms struggle to deal with the dull consumer demand that has followed two years of pandemic-fuelled high demand for home appliances and personal devices.
Besides, inflation, expensive borrowing costs, and the ongoing Ukraine-Russia conflict have added to the woes.
TV manufacturers have persistently focussed on the more profitable, high-end segment, where the slump in demand is less than the budget category.
According to Omdia, the industry tracker, Samsung Electronics Co. held 53.6% market share in the premium TV segment, where TVs are priced at USD 2,500 or more, while LG and Sony held 21.5% and 17.2% market share, respectively.
LG maintained its top position in the OLED segment, by selling about 1.69 million units in the first half, which was around 62% of OLED shipments across the globe. Omdia anticipates that OLED TVs will represent 55% of Europe’s premium TV market this year. It also added that this figure will rise to around 66% by the end of 2023.
Source credit: https://en.yna.co.kr/view/AEN20220829003400320?section=news