LG REVEALS AGGRESSIVE STRATEGY FOR NEXT GENERATION TV MARKET
Accelerating the Global Rollout of OLED and ULTRA HD TVs High on LG’s Agenda for Growing its Global TV Market Share
BERLIN, Sep. 9, 2013 — At IFA 2013 in Berlin, the chief executive of LG’s Home Entertainment Company revealed that the company will expand the global rollout of its OLED TVs to several markets throughout Asia, Africa, the Middle East, and the CIS region before the end of the year. Moreover, the company’s 55- and 65-inch ULTRA HD TVs — the first ever models to be equipped with HEVC decoders — will be launched in 50 countries this year and LG will expand its strategic cooperative efforts with broadcasters and other partners to accelerate the growth of ULTRA HD content.
“With the demand for OLED TV and ULTRA HD TV expected to grow rapidly next year, the competition to gain supremacy in the next generation TV market will be fierce,” said Mr. Kwon, president and CEO of the LG Electronics’ Home Entertainment Company. “LG will leverage its strong position and further consolidate its global TV business by speeding up the launch dates of its OLED TVs in a number of core markets. We will also introduce an expanded lineup of ULTRA HD TVs and deliver a comprehensive, differentiated smart TV user experience.”
Market Dominance via Expanded OLED TV Rollout
LG marked another milestone by unveiling world’s largest ULTRA HD OLED TV at IFA. Spanning a total of 77 inches diagonally, the massive screen’s IMAX-like curvature fills the viewer’s field of vision more completely than a flat-screen TV. The ULTRA HD CURVED OLED TV combines LG’s exceptional WRGB OLED and ULTRA HD technologies, enabling it to produce infinite contrast ratio and resolution four times greater than regular FULL HD. LG will introduce its advanced ULTRA HD OLED TV technology to consumers in 2014.
Consumers can already experience LG’s innovative OLED TVs in South Korea, the United States and Europe. More consumers will be able to experience LG’s innovative technology with the rollout of LG OLED TV in Asia, Africa, the Middle East, and the CIS region later this year. In order to quickly expand the OLED TV market, LG plans to sell its groundbreaking TVs not only in department stores and luxury retailers but also large consumer electronics chains with national networks.
Through the continuous development of innovative technologies, LG will solidify its position as a provider of “first ever” products. The company intends to expand its industry leading OLED TV lineup, complementing its 55-inch CURVED OLED TV with the wall mountable GALLERY OLED TV. Furthermore, LG is hard at work developing OLED TVs with ULTRA HD picture quality in screen sizes greater than 70 inches.
Accelerating the ULTRA HD TV Market
By introducing a comprehensive range of ULTRA HD TVs, LG will give consumers more choice and invigorate the global next generation TV market. The new premium and affordably priced 55- and 65-inch ULTRA HD TV series are scheduled to launch in 50 countries before the end of 2014.
LG’s ULTRA HD TVs are the first in the world to feature HEVC (High Efficiency Video Coding) decoders. This makes it possible to view ULTRA HD content without an external decoding device, such as a set-top box. The built-in decoder also means that a USB drive or any other peripheral containing 4K content can be connected to a LG ULTRA HD TV to seamlessly plan stunning ULTRA HD movies and videos.
And LG is stepping up its efforts to expand the availability of ULTRA HD content in close cooperation with broadcasters. It is also forming alliances with content distributors to expand the supply of high quality ULTRA HD entertainment and collaborating with respected artists on cutting-edge multimedia projects.
The exciting ULTRA HD TV market will be driven by LG’s differentiated competitiveness, which includes IPS panel and CINEMA 3D technology. Complementing ULTRA HD picture quality with superior sound quality, LG is increasing its R&D investments in audio technology as well as sourcing the best new sound solutions through its relationships with other leading companies.
Smart TV UX
LG will also increase the market share of LG’s smart TVs by expanding compatibility with web-based applications and by strengthening LG’s involvement in the Smart TV Alliance.
With its improved, intuitive Smart TV platform, LG will provide a user experience (UX) that boasts unparalleled ease-of-use and connectivity. LG’s Smart TV platform is designed around the S2R2 strategy, which represents the core strengths of the company’s Smart TV user experience. This strategy will focus on the four components of LG’s Smart TV user experience: Search, Sharing, Recommending and Recording.
LG will give users access to an even greater breadth of outstanding content via strategic partnerships with content providers and broadcasters, including major European players, RAI and BSkyB. LG will bolster its Smart TV game offerings with popular titles from noted publishers including Activision, Disney and even cloud-based gaming services.