As part of its efforts to diversify its line-up of sizable OLED TVs and maintain its dominance in the premium TV market, LG Electronics said on Monday that it would display the largest organic light-emitting diode (OLED) TV in the world at the forthcoming electronics exhibition in Berlin.
The OLED evo Gallery Edition, a 97-inch OLED TV, and other products will be unveiled by LG at the IFA 2022, which begins on Friday in Germany.
The fourth quarter, when sales of consumer electronics and household appliances are at their highest during the Christmas shopping season, will see the model on the market, according to the South Korean tech business.
According to the Yonhap news agency, LG’s OLED TV portfolio for this year includes models with screens as large as 97 inches, bringing the company’s total screen size to 97 inches.
Self-lit pixels in OLED TVs may be individually switched on and off, enabling novel form factors including flexible and rollable TVs, according to LG.
The international electronics trade fair will take place at a time when international tech firms are fighting off lagging consumer demand following two years of a pandemic-driven rise in demand for personal gadgets and home appliances. Runaway inflation, high borrowing prices, and the conflict between Ukraine and Russia all made matters worse.
The high-end, more lucrative section of the TV market, where demand slowed down less noticeably than in the budget segment, has seen TV manufacturers step up their marketing efforts.
According to market researcher Omdia, Samsung Electronics Co. has a 53.6% market share in the premium TV market, which includes TVs costing $2,500 or more. LG is second with a 21.5% market share, while Sony is third with a 17.2% market share.
With 1.69 million units sold in the first half, or nearly 62 percent of all OLED shipments globally, LG maintained its firm top rank in the OLED TV market.
OLED TVs will make up 55% of the premium TV market in Europe this year, according to Omdia. By the following year, the percentage is predicted to reach 66 percent.
33.2 percent of all TVs sold by LG in the first half were OLED TVs.