LG Electronics who yesterday launched a new ‘Life’s Good’ campaign as part of their move to a new head office in Parramatta in NSW, claims that they expect to ship fewer OLED TVs this year compared to last year due to a fall in demand due to inflation issues impacting the market.
Management at LG Electronics subsidiary LG Display said that large OLED TV panel production had fallen to 5 million units compared to 2022’s 6.8 million units.
According to LG Australia’s Consumer Marketing Manager Tony Brown Australians are taking to larger screens with demand for 77″ and 85″ TV’s soaring despite the downturn in sales.
The Australian ‘Life’s Good’ launch follows the global campaign launch in August 2023 with local management claiming that the campaign empowers individuals to find positivity and cherish the small moments in their everyday lives.
“For us, Life’s Good is more than a slogan, it’s a brand promise that has guided everything we have done since we introduced it 24 years ago,” said Gemma Lemieux, Marketing Director at LG Electronics Australia. “Optimism is about finding the light when things are at their darkest and the idea of carrying this through troubling times is important to us as a brand.”To celebrate the launch of the ‘Life’s Good with Optimism’ campaign, LG teamed up with global ambassador and renowned musician and athlete, Cody Simpson, to share his story of brave optimism.
Also on hand was Emma Carey, best known as the girl who fell from the sky. The discussion saw both Cody and Emma open-up about the pivotal moments in their lives where embracing optimism set them on the path to lead better lives.
Local LG management are targeting the premium end of the consumer entertainment and appliance market as well as the B2b and corporate markets with a new range of big display screens, monitors and PC’s.
Most of its OLED TVs will be premium models next year LG South Korea management said recently.
The geopolitical issue in Europe, one of its main customers for OLED TVs, caused uncertainty throughout the third quarter, according to LG’s latest fiscal report covering the July to September period.
Despite an overall fall in demand for OLED panels, the business is expecting a mid-10% growth in demand for premium OLED TVs in 2024, based on data from several market research firms.
LG is expected to launch a new Web OS content platform at CES 2024 for their OLED TVs, and monitors.
