South Korean company LG is now leading the global premium TV market. Buoyed by a rising surge in its UHD OLED (Ultra High Definition Organic Light-Emitting Diode) television sets, LG has topped the segment. Despite the market leadership, the company has assured that it will push for innovation, higher quality maintenance services as well as further improvement in production efficiency to bring down the prices.
LG’s home electronics segment recently set an operating margin of 14 percent in the first quarter of this year. The record-setting milestone was primarily due to the surging sale of its premium UHD OLED TVs. The ultra-High Definition (UHD) OLED TV product line that LG produces has allowed the company to set new standards for efficiency and vibrancy of consumer displays. Moreover, LG claims it has been pushing down the list prices with innovative production techniques to blur the line between premium and affordable TVs.
LG Slim UHD TVs: Specifications
Apart from high quality OLED displays, the LG embeds the powerful Alpha 9 intelligent processor within the top-of-the-line devices. LG claims the processor, an in-house development, enables delivery of true-to-life images with rich colors, sharpness and depth. LG relies on webOS to enable consumption of streaming content. Almost all OLED TVs from LG are packed with premium Dolby Atmos sound system as well as AI-powered smart controls.
LG promises quality maintenance for its devices, and OLED TVs are no exception. In fact, the company has promised that consistent improvement in quality maintenance will continue to remain a top priority.
The Demand For Slim UHD OLED TVs Will Continue To Surge As Prices Fall Consistently
The demand for HD and UHD televisions has been gaining a lot of momentum. According to market research firm IHS Markit, the sales are racing ahead and won’t slow down for the foreseeable future. Past data indicates TV manufacturers sold about 340,000 units in 2015. The demand rose to 2.54 million in the current year. By the year 2022, the demand is expected to surge to more than 9 million units.
LG is now the undisputed leader in the global OLED TV segment. It commands more than 70 market share of the premium TV market. Although the company confidently owns more than 2/3rd of the market today, it has promised several improvements to ensure the sales continue to climb in its favor.
To ensure that prices remain in check, LG has been seriously looking at raising production efficiency. The results of this commitment are amply visible. Way back in 2013, when LG first launched its OLED TVs, the company had priced the 55-inch model at roughly $13,000 (Rs. 8 Lakhs approx.) Since then, as the production techniques and sales have improved, the prices have witnessed a downward trend. Today, a similar 55-inch model with a lot of advanced features is available at less than $3,000 (Rs. 2 Lakh approx.).
LG’s Ultra HD OLED TV: Availability and Price
LG’s Ultra HD OLED TVs are easily available in majority of online as well as physical retailers. Besides sales and service, sellers offer easy payment and installation assistance as well. In India, LG offers on-site warranty. This allows the customer to get their units serviced wherever they are installed. The 1-year comprehensive warranty also covers replacement of any defective parts as well as labor charges. Incidentally, the quality and reliability of electricity has remained a concern for the TV segment. Hence, companies like LG embed efficient power supply units in premium TVs. These PSUs can operate under a wide range of voltages.
Given the technology, LG OLED TVs are priced quite higher than LED TVs. The entry level 55-inch OLED TV model is currently listed slightly higher than Rs. 2 Lakh, while the top-end 65-inch model currently available in India, rings in at approximately Rs. 3.53 Lakh.
