LG Elelctronics Plans to Unveil the 55" OLED TV during the 65th Cannes Movie Festival
March 26, 2012

On March 23, Maeil Economy, a Korean news source, reported that LG Electronics will release its first 55” OLED TV, priced at KRW 9 Million, equivalent to USD 7,890 (USD1=KRW 1,140.6).  According to the source, LGE will exhibit the 55” OLED TV at the 65th annual Cannes Film Festival in France in May.  Beginning with the Cannes Film Festival, LGE is expected to aggressively approach consumer markets.  Its original marketing plan was to release the OLED TV during the London Olympics, starting in July.  By accelerating its release date, LGE hopes to establish the company as the leading OLED TV producer.  Samsung Electronics is planning to release its large OLED TV before London Olympics.   Recently news sources wrote that LG Group chairman Bonmoo Koo has been motivating and encouraging LG people repeatedly saying “Quickly, Differently and Correctly.”  The group fell behind on its smartphone business and its LCD display business has been losing money for that last few quarters. Reportedly, LG Display will move to profitability in the next quarter. While the Samsung display business shifts from LCDs to OLEDs, LG expects to compete for the leadership position in OLED TVs and flexible OLED displays and maintain its R&D to advance LCD.  LG Group set its 2012 revenue goal (Hankook Economy) at KRW 158 Trillion (USD 139 Billion).  Currently its G8 OLED TV line is able to produce 48K “55 OLED TV panels per month.  Its additional OLED investment will be decided by July.  

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