In a conference call for the third quarter on the 28th, LG Electronics announced that it is expected to reach 4 million units of OLED (organic light emitting diode) TV sales this year. This is more than double the target at the beginning of the year.
Lee Jung-hee, LG Electronics’ Executive Vice President of HE Business Management, said, “In the fourth quarter, TV demand is expected to decrease compared to the same period of the previous year due to the ‘with Corona’ policy and economic uncertainty. It is expected to continue to increase to 32%.”
Although marketing expenses are expected to increase during the high season at the end of the year, it plans to maintain sales growth by focusing on cost reduction and increasing the sales portion of premium products such as OLED TVs and extra-large TVs.
Regarding the plan of competitor Samsung Electronics to launch QD (quantum dot) OLED TV next year, it is predicted that “new competition in the OLED market will intensify in the future.” However, the position is positive in terms of expanding the OLED ecosystem.
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Director Lee said, “We will solidify our image as a leading OLED TV manufacturer that we have built for 10 years from the beginning of the market and utilize our differentiated capabilities in product development, such as improving image quality and presenting various form factors. We will continue to strengthen our efforts to actively respond to various demands,” he added.
In the third quarter of LG Electronics, the HE (home entertainment) division recorded sales of 4.18 trillion won. It increased by 13.9% compared to the same period last year and continued to record 4 trillion won in sales for the last four consecutive quarters. Operating profit was 28.3 billion won.
