Seen is LG Electronics' 97-inch OLED evo TV, provided by the company, Tuesday. Courtesy of LG Electronics

By Baek Byung-yeul

LG Electronics unveiled a new lineup of organic light emitting diode (OLED) TVs, ranging in size from 42 inches to 97 inches, Tuesday, as part of its efforts to bolster its image as a premium TV maker.

Park Hyoung-sei, head of the company's Home Entertainment (HE) Division, said that OLED TVs with various sizes can expand consumer choice, while providing existing users with different experiences whether using the screens as a second TV or for games.

"We have developed new products to maximize customer value. They are released in various form factors and are able to deliver the best picture and sound quality," he said during an online conference, adding that the newly launched OLED evo TVs come in 11 models of different sizes.

Park Hyoung-sei, head of the Home Entertainment Division at LG Electronics, speaks during an online conference, Tuesday. Courtesy of LG Electronics

LG is the second-largest TV maker in the global market, following Samsung Electronics. With these new models and other TV products, the company aims to secure a market share of around 23 percent in the global TV market in 2022.

"I don't want to disclose the sales target, but our market share is expected to be 23 percent this year. Since the premium TVs worth over $1,500 increased by 4 percent year-on-year last year, we will continue to expand our share in the premium TV market this year as well with OLED TVs," he said.

Park also shared his opinion about speculation that LG's archrival Samsung may launch its own OLED TVs soon.

"I have not yet heard that Samsung Electronics will officially join the OLED market. But more than 20 TV makers have joined the OLED market and if Samsung Electronics enters, it will become a positive factor for expanding the OLED ecosystem," Park said.

The industry view is that Samsung is set to launch its quantum-dot OLED (QD-OLED) TV, based on a hybrid technology that combines quantum dots and OLEDs to deliver brighter and broader color expression, deeper blacks and wider viewing angles.

Expectations were that Samsung may unveil its QD-OLED TVs at the Consumer Electronics Show in Las Vegas this week, but no such product was included in the company's exhibition list. Samsung is widely expected to bring a significant impact on entering the OLED market as it has been the world's top TV manufacturer by sales for 16 years since 2006.

"Samsung's entry to the OLED market would be a positive sign that every TV maker recognizes OLED, so it will be a welcoming move for us to expand the entire ecosystem," the TV business head added.

Regarding global supply chain disruptions, Park said LG will continue its system to optimize logistics and materials costs to defend profitability.

In regard to the view that the COVID-19 effect, which has buoyed TV sales during the past two years, may end this year, Park said: "The pandemic is prolonged and consumers are still spending a lot of time at home. We estimate that demand for OLED TVs will increase even more because they reduce eye fatigue and deliver better picture quality."