LG Electronics has reinstated its position as the leader in the OLED TV market by introducing the OLED evo TV. It is 70 percent brighter than other OLED TVs. LG said it applied brightness improvement technology to the 65-inch OLED evo TV.
The new TV is about 70 percent brighter than OLED TVs with the same screen size and reduces screen reflection. Moreover, the new product is equipped with the sixth generation of artificial intelligence (AI)-based Alpha 9 processor chip.
Jung Jae-cheol, head of the company’s Home Entertainment Research Center, during a press conference at its R&D Center in Seoul said the 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.”
LG’s TV lineup for this year has been strengthened by the variety of sizes. Customers can purchase OLED TVs ranging in size from 42-inch to 97-inch models. It should also be noted that LG is the only company that releases OLED TVs with a screen size larger than 90 inches. Jung shared that the past decade has been a very important time for the company. “LG is now recognized as the most famous OLED TV maker, accounting for more than 60 percent of the global OLED TV market.”
Tough Year for Global TV Market
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But the global TV market will see that 2023 is a tough year because of inflation and other negative global economic factors. As such, LG aims to increase its shares in the premium TV market in 2023. SP Baik, the vice president of the TV Product Planning Division at LG, highlighted that 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 by we forecast that our TV business could increase slightly compared to last year.”
The executive believes a plan could be possible, attributing it to the rising popularity of OLED TVs sold at a higher price than regular TVs.