LG Focuses on Furthering Innovation in Global Premium TV Market with OLED TV Leading the Way
Speaking at a roundtable at IFA 2015 in Berlin, a top official of LG Electronics (LG) revealed the company’s plan to sell five times as many OLED TVs as it did in the first half with the aim of making LG OLED the new standard of TV by the end of the year.
With a goal of selling more than one LG OLED TV per minute, Brian Kwon, executive vice president and CEO of LG’s Home Entertainment Company, cited four overarching marketing directions designed to solidify LG’s leadership role in the home entertainment market: (1) leading the global OLED TV Market with an expanded OLED TV lineup, (2) conducting enhanced marketing campaigns to expand OLED TV’s market penetration, (3) strengthening its dominant position in the smart TV platform business and (4) enhancing profitability in the audio video product segment.
Expanded OLED TV Lineup
With the world’s first high dynamic range (HDR)-enabled 4K OLED TV, LG will incorporate HDR technology in more of its OLED TV lineup. Its 4K OLED TV is expected to attract new customers with its impressive design which measures only 4.8mm at its slimmest point. With a host of new functions, design features and display formats, LG will provide a wider selection of OLED TVs to suit the tastes of different customers. LG is confident that the announcement of OLED TV products from other manufacturers will accelerate the adoption of OLED TV by more and more consumers and expand the segment within the TV market.
Enhanced Marketing Campaigns
The company will invest in a variety of marketing campaigns to increase international sales of its OLED TVs with product introduction tours and OLED displays at major airports in the world. LG is confident that strong reviews of LG OLED TVs from product testing organizations and media outlets will drive more interest in consumers. One US publication recently named LG’s OLED TV as this year’s best TV and LG’s model 65EG9600 was recognized as the “King of TV” by electronics distributor Value Electronics.
Strengthening Smart TV Platform Business
LG will continue to expand its webOS platform with more smart TV content from partners such as Netflix and YouTube, movies from local content suppliers and a range of new applications. The company will kick off an HDR content streaming service for webOS 2.0-enabled smart TV users in partnership with Amazon and roll out its Value Pack Upgrade for webOS 1.0 users which includes free features available in webOS 2.0.
Enhancing Profitability in Audio-Video
LG aims to enhance its profitability in the monitor, digital signage and audio-video business. With an unparalleled digital signage product lineup with ultra-thin displays with the world's slimmest bezel to bezel design of less than 2mm, LG hopes to secure its reputation as a provider of premium display solutions. The company will also aggressively push its high-end monitor products such as the 21:9 flat and curved monitors with 4K resolution. LG will expand its Bluetooth audio products with a lineup that adds to the curved sound bar and portable speakers announced leading up to IFA 2015.