LG Electronics, which has been aggressively following its "OLED: The Future of TV" moto by investing in the OLED technology, has slashed the price of its latest curved 55-inch OLED TV in Korea.
From September 29, LG's 55-inch curved OLED TV (55EC9300) will be sold for 3.99 million won ($3,809) per unit throughout retail channels and stores in Korea. Early last year LG has been offering a same-size OLED unit with a different model number (55EA9800) for 15 million won ($14,320).
OLED, an organic light-emitting diode, is considered the next-generation technology for television, with remarkable images and super-thin screens that can be twisted. However, OLED TV costs twice as much as a same-size mainstream LCD TV.
Obviously LG plans to narrow the cost difference between comparable OLED TV panels and LCDs. The latest price cuts is a bold decision, meaning LG has opted for market share rather than profitability.
Cross-town rival Samsung Electronics has chosen to focus more on small OLEDs for Galaxy Note, Galaxy Tab and Galaxy smartphones.
Samsung's "true RGB OLED TV," the curved and full high-definition 55-inch KE55S9C, costs more than $8,500 when it was launched in the U.K. last October.
The reason for this price difference is LG's four-color W-RGB technology and pixel-dimming system. The approach system makes it far easier to produce OLED panels than Samsung's RGB method, which has been difficult to commercialize.
But Samsung is investing $38 million in an OLED startup called Kateeva. The U.S. company has unveiled a revolutionary inkjet printing resolution, which it claims can slash the OLED manufacturing costs while boosting production.
Kateeva says large-sized OLED TV panels will be ready by next year.