Organic light-emitting diode (OLED) screens are fast ascending to become a mainstream in the high-end TV market with worldwide sales expected to nearly double this year and help generate handsome returns for dominant big-screen OLED panel maker LG Display and TV maker LG Electronics.

OLED TVs sold about 500,000 units around the world in the first half, doubling from the same period of last year. Sales for full year are estimated at 1.4 million units, up more than 75 percent from last year’s 800,000 sets.

Their share in the premium TV market rose sharply as the result, according to global market data provider IHS. OLED TVs in 55-inch or above took up 9.5 percent in the TV category based on sales value in the second quarter, up from 5.9 percent in the first quarter.

OLED TV was first introduced in 2013 by South Korea’s LG Electronics. It gained attraction with its excellent picture quality- especially with its ability to turn off individual pixels completely, thus, producing sharp contrast with perfect black. Also, it is thinner and flexible than liquid crystal display (LCD) panels as it does not require backlight for pixel illumination. The sole damper was its price as it doubled the cost of LCD TV until 2015.

The price gap was narrowed to 1.45 times last year and further to 1.3 times this year as the sole panel maker LG Display Co. developed technology to bring down the manufacturing cost and up the turnout.

LG Display said it will next year bump up output by 40 percent from this year, which could make OLED TVs more affordable.

Shares of LG Display closed Monday at 34,000 won ($30.14), up 0.59 percent from the previous session.

By Kim Dong-eun

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