China Strategy
LG Display plans to build partnerships with TV makers and retailers in China in order to expand its OLED panel business in the country, which is the world's largest TV market.
LG Display held OLED Partner's Day at the Renaissance Beijing Capital Hotel on Sept. 16 by inviting six TV manufacturers such as LG Electronics, Skyworth, Konka, and Changhong, Haier, and TPV, four major retailers including Suning Commerce Group and Gome, the China Electronics Chamber of Commerce, China National Institute of Standardization, and China Electronics Enterprises Association.
Those Chinese TV makers constitute around 50 percent of the local market as of the first quarter of this year. Suning and Gome are the two prominent electronics retailers in China, and each of them operates 3,000 stores nationwide.
The main purpose of the event was for the Korean LCD panel maker to stay ahead of the global OLED market, which is showing signs of expansion. With Haier, Panasonic, and Vestel showcasing OLED TVs during IFA 2015 in Berlin, Germany, OLED TVs are more likely to be commercialized soon. LG Electronics is scheduled to introduce 55", 65", and 77" UHD OLED TVs to the Chinese market this year, and Changhong and Konka are going to roll out 55" and 65" UHD OLED TVs as well.