LG Electronics has started rolling out its OLEDs 55-inch set in the market. In fact it has started selling the OLEDs in South Korea. The device which is thinner than Apple Inc. (AAPL)'s iPad uses a new display technology.
LG Electronics (LG) announced today that it will begin accepting pre-orders for its eagerly-awaited 55-inch class (54.6-inch diagonal) WRGB OLED TV (Model 55EM9700) in South Korea this month with deliveries scheduled to begin next month.
The OLED TV will be available only for the local customers now. The company is planning to expand its market to North America, Europe and Asia within a period of 3 months ahead of Samsung Electronics Co.
LG and Samsung are banking on the dreams of a better OLED market to increase the sales gap with Panasonic Corp and Sony Corp. The model costs $10,000 (Rs. 5,62,464 approx).
The rates of the OLED's should come down to about $5000- $7000 (Rs. 2,72,300 to Rs. 3,80,940) to open up its initial market which is only possible later this year.
Samsung had delayed its OLED launch because of the high price and adverse market conditions. Both the companies had unveiled the prototype of OLEDs in Consumer Electronics Show 2012.
"We are extremely pleased to be able to make this announcement at the start of the new year because we believe that OLED will usher in a whole new era of home entertainment," said Havis Kwon, President and CEO of LG's Home Entertainment Company.
Not since color TV was first introduced 60 years ago has there been a more transformational moment. When high definition TV was first introduced 15 years ago, the public's reaction was ‘wow!' but when customers see our razor-thin OLED TV for the first time, they're left speechless.
That's a clear indicator as any that OLED TV is much more than just an incremental improvement to current television technology."
OLED is going to be a fast growing market in the TV industry and LG is all set to take a quick lead. Samsung and LG use unique OLED technologies. Samsung uses red, green and blue OLED materials inside each pixel to create images and LG uses only white light and an extra color filter.
Sony (6758) introduced its first OLED last year and entered a partnership with Panasonic to make more OLED sets. It is a tough time for Sony as it is entering the 9th consecutive year of losses from TVs.
Panasonic estimates a loss of $8.8 billion for this financial year. Global TV demand is taking a new turn as the shipments the last year declined over 4 percent for all TV types.