LG large screen OLED TV targets raised

New CEO pushing for larger OLED sales

by Andy Bassett
TV News

1

LG large screen OLED TV targets raised

LG Electronics raises its sales target for large screen OLED TVs to double that of 2019.

Seemingly aligning itself with sister company LG Display’s OLED TV focussed strategy, LG Electronics will be focussing on sales of 60-inch or larger OLED TVs in a move that appears to underline new CEO Kwon Bong-seok's TV based credentials.

According to market research outfit IHS Markit, 60-inch and larger sized screens made up 1.11 million of the total 3 million OLED TVs sold during 2019 and the new expected sales target is almost double that at 1.98 million units of 60-inch or larger OLED TVs. Sales are then projected at 3.79  million and 6.07 million for 2021 and 2022 respectively.

These targets will be supported by LG Display’s ramping up of production with the imminent commencement of mass production at its Guangzhou fabrication plant in China. Starting at 60,000 units of 8.5 generation mother glass per month, full capacity is expected to reach 90,000 sheets a month later in the year.

A total of three 65-inch OLED panels can be cut from a single unit of 8.5 generation mother glass and the introduction of multi-model glass (MMG) technology enables additional production of small and medium-sized panels from the sheet, thus reducing production costs.

In addition, LG Display currently has a 10.5 generation fabrication plant under construction in Paju, Korea where it will produce 2,940 x 3,370mm mother glass sheets from which eight  65-inch panels can be cut.

LG Electronics carved out 56 percent of the global OLED TV market as of the third quarter of last year in cumulative terms. A narrowing in the price differential between OLED and LCD panels is likely as OLED production costs come down and LCD panel prices stabilize due to production shifting almost solely to Chinese manufacturers and LG will be hoping that this will encourage the consumers towards considering OLED TV as a more realistically priced proposition.

However, LG Electronics won’t have it all its own way as it attempts to retain its position as the global number one OLED TV seller. LG Display has 17 other TV manufacturing clients all planning to release OLED TVs, many this year. Sharp recently announced it was releasing an OLED in an attempt to regain lost ground against its domestic rivals Panasonic and Sony, plus Vizio and Skyworth both announced their OLED plans at CES in January.

As manufacturers start targeting larger screen sizes, are you planning on upgrading in size for either your next OLED or LCD TV purchase? Let us know if you’ve got the space, budget or desire to move up a screen size in the discussion thread.

Source: www.businesskorea.co.kr
Image Source: LG

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