According to news reports circulating LG Electronics is expected to use the Cannes Film Festival to launch the world’s first 55-inch OLED (organic light-emitting diode) TVs in May. LG Electronics has ambitious plans to become a major player in the OLED TV market by launching OLED TVs ahead of its rivals. Prices of the OLED TVs are to be about $7,900 (nine million won).
LG Electronics had previous been rumoured to possibly launch OLED TVs in the second half of 2012. However, it now appears that LG’s management have decided that the company should release OLED TVs ahead of its competitors in order to take the leadership in the market and benefit from seasonal demand during the London Olympic Games from July 28 to August 12, and the company determined to move up the schedule to May.
LG Group Chairman Koo Bon-Moo recently said, “In order for LG to take the lead in the OLED TV market, LG should roll out OLED TVs earlier than it planned.” He added, “Speed up the research and development (R&D) to commercialise OLED TVs ahead of schedule”.
LG’s rival Samsung Electronics is also expected to launch 55-inch OLED TVs before the Olympics.