South Korea’s electronics behemoth LG Electronics Inc. will unveil a new high-definition liquid crystal display (LCD) TVs based on a new type of solution for quantum dot display that its local rival Samsung Electronics uses, according to a senior company executive.

The company wants to sustain LCD mainstream amid spread of applications of light-emitting diode (OLED) panels with a new type of premium TV, said Kwon Bong-suk, executive vice president and CEO of the home entertainment (HE) division of the electronics company, at a press conference held on sidelines of LG’s exhibition at the IFA 2016 trade show in Berline, Germany,

“We would launch new premium LCD TV next year for a dual-track strategy with OLED TVs,” he said.

“We would expand the presence in the market through our premium LCD TVs which use similar but independent technology of quantum dot TVs of Samsung Electronics Co.,” Kwon added.

Despite fast growth of OLED TV in the high-end market, OLED sets still remain expensive. The new LCD TV with competitive picture quality would be more price-appealing.

Sony Corp. became latest among a dozen of electronics companies that released OLED TVs this year.

“As competition on OLED TVs would get fiercer from next year, we would diversify products with differentiated image quality,” he said.

The company’s HE division recorded an all-time high operating profit margin of 8.1 percent in the first half of this year. This owes much to strong sales of high-priced OLED TVs. Ultra High Definition (UHD) TVs account for about 33 percent of all OLED TVs produced in the company. The company plans to increase the share to 70 percent in the second half.

LG Electronics would make the most of OLED technology in business-to-business (B2B) transactions. “We have been in talks with two large passenger carriers on supply of OLED displays in planes,” he said. It has taken longer because it is stricter to verify reliability and safety of OLED products in flights.

By Lee Seung-hoon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]