LG are determined not to let Panasonic steal their OLED limelight at this year's IFA show and made some very bullish statements at a roundtable discussion in Berlin.The Korean manufacturer plans to sell five times as many OLED TVs in then second half of the year as it did in the first, with the aim of making LG OLED TVs the new standard for 2015. Brian Kwon, Executive Vice President and CEO of LG's Home Entertainment Company, said that the goal was to sell more than one LG OLED TV per a minute. To achieve this lofty ambition, LG have a four stage strategy that is designed to solidify their position in the home entertainment market.
First of all they plan to lead the global OLED TV market with an expanded range that includes the world’s first high dynamic range (HDR)-enabled 4K OLED TV. By the end of the year, LG will also have incorporated HDR technology into more of its OLED TV line-up. With a host of new functions, design features and display formats, LG plan to provide a wider selection of OLED TVs to suit the tastes of different customers.
Secondly they will be conducting enhanced marketing campaigns to expand the market penetration of LG OLED TVs. The company will invest in a variety of marketing campaigns to increase international sales of its OLED TVs with product introduction tours and OLED displays at major airports in the world. LG are also confident that strong reviews of LG OLED TVs from product testing organisations and media outlets will drive more interest in consumers.
Thirdly they plan to strengthen their position in the smart TV platform business. LG will continue to expand its webOS platform with more smart TV content from partners such as Netflix and YouTube, movies from local content suppliers and a range of new applications. The company will kick off an HDR content streaming service for webOS 2.0-enabled smart TV users in partnership with Amazon and roll out its Value Pack Upgrade for webOS 1.0 users which includes free features available in webOS 2.0.
Finally they are looking to enhance their profitability in the monitor, digital signage and audio-video business. With an unparalleled digital signage product line-up, LG hopes to secure its reputation as a provider of premium display solutions. The company plan to aggressively push its high-end monitor products such as the 21:9 flat and curved monitors with 4K resolution. LG will also expand its Bluetooth audio products with a line-up that adds to the curved sound bar and portable speakers announced at IFA.
LG are clearly annoyed that Panasonic has been gaining all the plaudits with their new CZ950 OLED TV, although given its rumoured price such performance doesn't come cheap. LG certainly has a much larger range of OLED TVs and despite reported issues, they still deliver a superior performance to just about any LED LCD TV on the market. What this strategy will mean in the long run remains to be seen but one thing's for sure - increased sales means lower prices and that has to be good for everyone.
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