Published on : Feb 24, 2015
South Korean electronics giant LG announced on Tuesday that it had started to seriously look for partners to sell its revolutionary TVs enabled with the new OLED technology. Since the market for OLED TVs is scarce as of yet, LG’s novel push into the unexplored territory is expected to be dear on the electronics giant’s purses. LG intends to give a strong jump-start to its advanced but expensive TVs with the help of such collaborations. The new OLED technology promises a richer color scheme, with more vivid tones than those offered by conventional television technology, in addition to much thinner screens than conventional TVs.
The OLED market, meaning organic light-emitting diodes, is a virtual playground for LG, who are just about the only company active in it. In 2014, the South Korean giant had 5 OLED TV models on offer; this year, the company plans to double that. The lack of firm interest from other major electronics manufacturers in the world, though, is becoming a hindrance to consumer acceptance. With no competition to drag the prices down, consumers are still primarily opting for cheaper conventional TV sets, leaving LG to lick its wounds. LG plans to remedy this by partnering with a few choice Chinese and Japanese companies, according to Brian Kwon, head of LG Electronics’ TV unit, without giving out any names.
Other major electronics manufacturers, notably Samsung, LG’s prime competitor in the TV market, are increasingly focusing on developing, enhancing, and refining the preexisting LCD or liquid crystal display technology. According to its proponents, advancements in LCD technology has now enabled it to provide features that were earlier considered the untouched domain of OLED. A lack of interest from potential buyers was the reason cited for Samsung’s diversion away from OLED TVs. Sony and Panasonic had earlier tried to sell OLED TVs, without much commercial success.