LG: OLED TV sales to exceed 1 million units next year

LG is throwing all of its TV-themed eggs into one OLED-loving basket, with the company predicted sales of the stunning TV tech will rocket in the coming years.

Having unveiled its latest line of home entertainment products at CES 2015 today, January 5, the Korean manufacturer has suggested OLED TV sales will top 1 million units by the end of 2016.

While this might not sound that much given the 32 million 4K panels expected to be shifted in a similar timeframe, given LG is the primary OLED provider, this market of one growth is reasonably impressive.

We expect the OLED market to exceed 1 million units sold by the end of 2016, in a market driven primarily by LG,” Tim Alessi, Head of Product Development at LG America announced during the company’s Las Vegas-based press conference.

He added: “It’s not just because of the power of the technology itself why I’m energised today, it’s LG commitment to further develop OLED.

“Our sister company LG Display has made a 200 million dollar investment in OLED production, quadrupling OLED production around the world.”

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The benefits of OLED panels come from their deep black levels. With OLED TVs featuring unrivalled blacks, the technology also benefits from low power consumption and a slim panels which enable more svelte and streamlined TV designs.

Pushing its OLED efforts over the coming year, LG has confirmed it will introduce seven be models, bringing down costs along the way.

“As a first indication as to our commitment to LG, we are expanding our OLED TV line up in 2015,” Alessi stated.

“We will introduce seven new OLED sets, including curved and flat models, and all of our new OLED models will feature 4K, Ultra HD resolution. They will be available in 55-, 65- and 77-inch sizes.”

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