LG Electronics is the world's leading OLED TV provider, and it successfully manufactured its state-of-the-art 83-inch TV. The company hopes that its new device can boost sales of large premium TV amid the stay-at-home trend in line with the COVID-19 pandemic.
LG Electronics OLED TV Journey
LG Electronics continues to expand its reach within the OLED TV market, and the company is confident that it will finally achieve its most significant annual profit for 2021.
Korea Herald reported that industry experts in the financial market believe that LG Electronics' TV line will bring over one trillion won in operating profit this 2021.
It would be the company's largest income in the past three years.
During the first quarter of 2021, LG Electronics was able to ship out over 790,000 OLED TVs. It is 116% higher than its production rate in the first quarter of 2020.
In 2020, the entire TV market recorded a 23% growth in profit sales compared to 2019, which totals 969.7 billion won. The market's growth is primarily due to the global production of OLED TV.
Korea Herald mentioned that several market watchers stated that LG Electronics has a plan for the OLED TV market. The company will receive support from LG Display's capacity growth, its panel supplier.
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What to Expect
Furthermore, LG Display might have the chance to produce and supply 8 to 10 million OLED TV panels in 2021. With this, the tech giant will probably ramp up its plant in Guangzhou, China, to meet the consumers' demands.
LG Electronics is the very first TV maker to launch an OLED TV featuring an 83-inch size display.
The television also comes with a 4K resolution to ensure a high-quality watching experience.
LG Electronics' 83-inch OLED TV will launch first in South Korea and the United States in June. It is priced at $9,630 in South Korea, while its U.S. price has not yet been announced.
Times of Now News reported that the latest TV extends LG Electronics' OLED TV lineup, composed of 48-inch, 55-inch, 77-inch, and 88-inch sizes. The 88-inch model features an 8K resolution.
The 83-inch OLED TV comes with innovative features such as 4K high frame technology that offers an enhanced viewing experience, especially when watching sports and playing video games.
LG Electronics - 83-inch OLED TV
The 83-inch OLED TV by LG Electronics is one of the Innovation Award honorees during the Consumer Electronics Show 2021. It received the accolade in video display and gaming categories, according to Times of Now News.
The report also mentioned that Omdia believes that the global market for OLED TV will reach a new record for 2021 -- 5.8 million units will be sold. In 2020, only 3.65 million units were sold, and 2021 looks like a deal-breaker.
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Written by Fran Sanders
