[Photo provided by LG Electronics Inc.]
LG Electronics Inc., South Korean pioneer in the OLED TV market, has launched its most premium organic light-emitting diode (OLED) TV sporting ultra-high definition 8K technology in Japan to gain the upper hand in the premium TV market ahead of the 2020 Tokyo Olympics.
The Korean TV maker said Tuesday that LG Signature OLED 8K TVs have become available at the flagship outlets of Japan’s top electronics retailers. 8K TV, the company’s new ultra UHD TV that is considered the most premium segment in its TV lineup, quadruples pixels of mainstream premium 4K TVs. It is 7,680 by 4,320 resolution or approximately 8,000 horizontal pixels.
Demand for OLED TVs is especially strong in Japan where the preference for premium TVs is high. OLED TVs accounted for one-fifth of the country’s total TV sales this year, far exceeding their global market share of 6 percent. As about eight out of ten Japanese consumers reportedly are highly aware of the OLED TVs, the country’s OLED TV market is expected to grow to 810,000 units by 2023 from this year’s shipment of 330,000 units.
The demand for high-resolution OLED TVs in Japan is expected to pick up ahead of the Tokyo Olympics coming in the summer of 2020. Industry tracker IHS Markit forecast shipments of the 8K TVs in Japan to reach 104,000 in 2023, sharply up from 8,000 units this year.
LG Electronics, which recently launched the world’s first 88-inch 8K OLED TV, hopes to solidify its leadership in the global premium TV market through its success in Japan. It also has been introducing high-end models of other home appliances such as refrigerators and washers to ride on the growing popularity of its premium TV.
“Japan traditionally has been a tough market for foreign electronics brands but LG Electronics has been able to keep up its position as a premium TV maker with its OLED technology,” said Lee Yong-chae, head of LG Electronics Japan. “We are confident to win the hearts of more Japanese consumers with the 8K OLED model.”
By Hwang Soon-min and Cho Jeehyun
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]