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LG says OLED models set to take up 20 pct of TV sales in 2018

All Headlines 14:45 March 05, 2018

By Kang Yoon-seung

SEOUL, March 5 (Yonhap) -- LG Electronics Inc. said Monday the organic light-emitting diode (OLED) TVs will take up around 20 percent of its combined TV sales this year.

"LG Electronics has been posting two-fold annual growth in the premium TV market centering on OLED TVs," said Kwon Bong-suk, the head of LG's home entertainment business, claiming the company aims to pull off strong growth throughout this year as well.

Kwon said the company also plans to have OLED TVs take a bigger slice of its portfolio going forward. In 2017, OLED TVs accounted for 15 percent of combined TV sales.

LG has been promoting OLED TVs, where pixels can generate light and be turned completely off to create deep blacks that can enhance the contrast of the screen. The technology is distinct from Samsung Electronics Co.'s QLED TVs, which generate color through a backlight behind the display.

The top executive said TVs will eventually grow to become the main hub of artificial intelligence platforms.

"In the short term, speakers can work as bridges to connect and control various products that are not powered by artificial intelligence (AI) technologies," Kwon said. "But in the longer term, the AI-powered TVs set up at the living rooms can play that role."

Taking the rising presence of TVs into consideration, LG Electronics said it will join forces with various partners to deliver distinct AI services.

Ordering food through TVs and activating other electronics are examples suggested by Kwon of services that could be provided by AI-powered TVs.

He, however, said the company will not jump into the content business, such as making movies or dramas.

"Although TVs should stand at the center of controlling various Internet-of-Things devices based on Web Operating System, we plan to open contents and services to expand their scope in the short-term," Kwon said.

The chief said LG Electronics will be able to produce some 10 million units of OLED TVs annually by 2021, which will allow it take up 5 percent of the global TV market.

Considering the protectionist trade policies promoted by U.S. President Donald Trump, Kwon said the U.S. is an important market for premium TVs, and that the company is ready to cope with any steps that can be taken by Washington.

Kwon Bong-suk, the head of LG Electronics Inc.'s home entertainment business, speaks during a press meeting held in Seoul on March 5, 2018. (Yonhap)


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