LG Electronics, Creator of 10 Years of OLED Leadership... Adds World's Largest 97-inch and Smallest 42-inch Lineup
[Asia Economy Reporter Jeong Hyunjin] LG Electronics is expanding its organic light-emitting diode (OLED) TV business, which marks its 10th year this year, to dominate the premium TV market. The company is expanding its main product, OLED TVs, from the world's largest 97-inch to the world's smallest 42-inch, increasing its TV lineup to eight models?the largest in the industry?and actively targeting the global market by introducing lifestyle products such as StanbyME overseas.
On the 4th, during the world's largest IT and home appliance exhibition, CES 2022, LG Electronics unveiled its 2022 LG OLED TV lineup and TV business strategy for this year.
LG Electronics announced that it will expand its OLED TV lineup to eight models, the largest in the industry. With the OLED TV market expected to reach a total of 8 million units this year, the company plans to meet the demand for ultra-large premium TVs, second TVs, and gaming TVs through the world's largest 97-inch and smallest 42-inch OLED TVs. Additionally, LG OLED Evo, which uses next-generation OLED panels, will significantly increase its lineup from one series with three models last year to two series with eleven models, upgrading picture quality by adding high-efficiency panels and advanced image processing technology.
The core of LG Electronics' TV business strategy is to strengthen the competitiveness of OLED TVs. LG Electronics commercialized the world's first OLED TV in 2013 and currently holds more than 60% of the global OLED TV market share. With the premium TV market rapidly growing around OLED TVs due to pent-up demand caused by COVID-19, LG Electronics is striving to solidify its leadership by having the world's largest and most diverse lineup.
LG Electronics introduced that it has upgraded the AI Alpha 9 processor, which consolidates OLED TV picture and sound data and know-how, to the 5th generation. It refines upscaling that reduces screen noise and enhances resolution, and converts 2-channel audio sources into virtual 7.1.2-channel surround sound, providing vivid audio experiences.
The company is also releasing lifestyle products that innovate TV form factors. Starting this year, it will actively expand overseas markets for OLED Evo with gallery design that allows the entire TV to adhere to the wall, the recently launched OLED Evo Objet Collection, and LG StanbyME. LG plans to operate a full TV lineup equipped with all existing TV display technologies, from self-emissive displays led by OLED TVs to QNED MiniLED, QNED, and NanoCell high color reproduction LCD TVs.
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Park Hyung-se, head of LG Electronics' HE Business Division, expressed confidence in the next-generation self-emissive TV competition based on leadership in the OLED TV market and technology, saying, "We will strive to deliver new emotions that cannot be experienced with other TVs through LG OLED TVs."
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