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Big Premium TV Battle Looming, Front & Centre Is LG OLED Technology

A battle royale is set to unfold in the TV market, with archrivals Samsung and LG Electronics looking to grow share in the premium market. Sony, who have grown share in 2021, looking to use their heritage and a new processor to drive sales with OLED TV technology set to be front and centre of the looming battle.

New QD-OLED technology is on the way from Samsung, with new models tipped for later this year.

QD-OLED has been making headlines since its introduction at CES 2022, and analysts are tipping it could become the benchmark for premium TVs.
The new technology, made by Samsung Display, takes OLED technology to the next level and is a direct competitor to LG’s conventional OLED TV tech, which has monopolised the consumer TV market since its introduction roughly 10 years ago.

Samsung is set to initially use LG OLED panels, as the South Korean OLED manufacturer witnesses a surge in demand for their OLED TV technology from third party brands such as Loewe, Metz and Sony.

Chinese brand Hisense, who are desperate to grow their share in the premium market despite lacking the technology, is set to use a new house brand processor in an effort to improve the quality of their TVs, while TCL is set to launch premium TVs with a new OS.

At LG Electronics, their new OLED panels, which were launched in 2021, has finally led to profits for the first time in nearly a decade, the Company said yesterday.

The company delivered a US$1.86 billion operating profit for 2021, turning around massive losses in the past.

The figure was slightly lower than the consensus estimate provided by market intelligence firm Unguided.

Sales were up 23.1 per cent from the previous year, beating the market consensus.

LG’s growth was delivered as sales of OLED TV set for high-end TV market grew by over 60 per cent year on year.

This was seen as a good achievement, considering the overall TV market declined 13% according to LG Display, a subsidiary of LG Electronics.

OLED TV share in the high-end TV market exceeded 30 per cent as of the fourth quarter.

“Looking back on the past year, we were able to show meaningful results in our core strategic tasks, even as COVID-related volatility and uncertainty continued,” LG Display Chief Financial Officer Kim Sung-hyun says.

“More importantly, OLED is now at a stage where it can produce substantive results.”

LG Display Vice President Daniel Lee says the business, which delivered consecutive losses for nearly a decade, is now profitable and growing.

CFO Kim claims small and medium OLED panels are capable of “ensuring consistency in mass production and quality,” while LCD panel price drawdown and the following decline in revenue is in line with Company projections.

Demand for OLED panels in large 32″ and 42″ gaming monitors has also helped.

But Kim is wary that its 2022 business “is expected to see demand adjustment after COVID-19.”



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