LG and Samsung face-off in OLED TV battle

Tech

Published: 08 Mar. 2023, 18:16

LG and Samsung face-off in OLED TV battle

LG Electronics' latest 77-inch OLED evo G3 TV model, left, is about 30 percent brighter than its predecessor G2 model, according to LG Electronics. [SHIN HA-NEE]

LG Electronics “welcomes competition” from Samsung Electronics, said an LG executive, as the two companies are to lock horns in the domestic organic light-emitting diode (OLED) TV market for the first time in 10 years.

On Wednesday, LG Electronics presented its revamped TV line-up with premium OLED models at the forefront.

As Samsung Electronics will release its OLED TV in the domestic market for the first time in a decade on Thursday, the two electronics makers will vie for the premium TV market share.

“We welcome competition from a new rival in the OLED market,” said Baek Sun-pil, LG Electronics vice president, during a press conference held at the company’s R&D center in southern Seoul, Wednesday.

“That once again reaffirms that after all, the premium TV business is all about OLED,” said Baek.

LG Electronics first entered the OLED business in 2013 and has been leading the market so far. The company controlled over 60 percent of the world's OLED shipments last year, according to market tracker Omdia.

Jung Jae-chul, second from left, senior vice president at LG Electronics, speaks during a press conference held Wednesday at the company's R&D center in southern Seoul. [LG ELECTRONICS]

Out of 203.3 million TV shipments in 2022, OLED models took up 6.5 million. For premium TVs that cost over $1,500, OLEDs accounted for 49.8 percent of sales.

Weighed down by shrinking demand, LG Electronics has posted quarterly operation losses in the TV business since the second quarter of last year.

But the company hopes that the figure would take an upturn soon.

“We cautiously forecast that we will soon be able to swing back to black in quarterly performance, as operational expenses such as logistics costs have been lowered and the currency situation became comparatively favorable,” said Baek.

Despite remaining uncertainties in the market, LG hopes to push up OLED’s contribution to its TV revenue from last year’s 35 percent, as luxury OLED models are more profitable compared to liquid crystal display (LCD) TVs due to the higher retail prices.

The global OLED market revenue, which shrank 13.6 percent in 2022, is expected to grow 12.3 percent this year to $12.5 billion.

LG Electronics’ latest OLED TV models come in a wide range of sizes, from the world’s largest 97-inch screen to a 42-inch model.

LG Electronics' wireless Signature OLED M TV model [LG ELECTRONICS]

There will be 29 models in the OLED TV line-up, according to LG Electronics, which includes wireless TVs and rollable screens.

Powered by the sixth-generation Alpha9 chipset, the latest 65-inch LG OLED evo G3 model is about 70 percent brighter than regular OLED TVs, and about 30 percent brighter than LG’s previous G2 model released last year.

LG Electronics will begin to sell its LG OLED evo TV series starting Mar. 13. The wireless LG OLED M TV model and 97-inch OLED evo will be released in the market this year as well.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]