LG banking on 55-inch OLED TV to boost sales

The overall demand for LG as well as other TV manufacturing companies has been declining of late and in a sudden move to compensate for this fact electronics giant LG is selling its 55-inch OLED (Organic Light-emitting Diode) TV models for only USD 10,000.

The TV’s have a 55-inch screen and use a superior display technology that makes the screen thinner than Apple’s iPad. These models use OLED technology and are only available to South Korean domestic consumers. LG plans to expand the sales of this product to North America, Europe and other Asian markets in the next three months so they can gain an edge over Samsung (who will release their OLED TV sometime in 2013).

LG (as well as Samsung) are counting on the superior OLED technology to widen the gap with Sony as well as Panasonic. With consumers shifting to portable devices, selling a gigantic TV such as this is definitely going to pose quite difficult. An OLED TV consumes less power when compared to normal LCDs (Liquid-Crystal Displays) and shows more vivid images, but it costs more than double than an average LCD TV set.

OLED TVs are expected to be the future of the rapidly growing 100-billion dollar TV industry and according to estimates the sales of OLED TVs will rise in the near future.