LG Electronics to post solid Q3 earnings on home appliance biz: Analysts
Analysts said the home appliance business once again anchored LG's performance in the third quarter with strong sales of premium products.
The sizable price tag could pose challenges for the early sales of the world’s first rollable television, which dazzled onlookers at the Consumer Electronics Show (CES) 2019, the President of LG Electronics Inc. has said.
The South Korean home appliance maker unveiled its 65 inch-rollable OLED TV, which can appear and disappear from a base unit with a click of a remote control, at the CES.
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LG said it will release the premium TV in the Korean market in the second half of 2019 and target other markets later, without elaborating on the details of the price and timing, Yonhap news agency reported.
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“A rollable TV is basically an OLED TV and it doesn’t add material costs, but changing the operating mechanism could add to the costs,” LG Electronics President Kwon Bong-seok said at a press conference.
“We will set prices based on how much consumers are willing to pay for the rollable TV, rather than seeking profits,” he added.
Kwon said the rollable TV exhibited at the CES is just a sample of how it can be used in real life, suggesting a broad range of applications.
“Should the TV only stand on the ground? It could be on the ceiling. We can use technology in many ways,” he said. “It is meaningful that we showed how far displays have evolved.”
The company will explore ways to develop various models by making smaller rollable panels.
“We are looking at ways to make panels smaller than 65 inches to see whether they can be used for small gadgets, such as tablets,” Kwon said.
To foster new growth drivers, Kwon said LG has been shifting its focus from LCD to OLED to target the growing premium TV market.
“Despite the stagnant TV market, the OLED TV market is expected to expand to 20 million units over the next three years,” he said. “We will expand the sales ratio of large OLED TVs.”
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