TV prices have been on a steady decline. LCD TV prices are continuously falling due to an increase in the supply of LCD panels. The prices of organic light-emitting diode (OLED) TVs are also falling fast as the yield rates for OLED panels are improving.
According to Danawa, a price comparison website, all TV prices fell by 10 to 40 percent from the previous year regardless of the panel type and panel size.
Danawa analyzed the monthly average retail prices of TVs sold online in Korea from May of last year to the same month this year. The analysis showed that all TV prices excluding 49-inch LCD TVs dropped year on year.
The TV type with the largest price fall was 65-inch OLED TVs. The average price of this product in May of this year was 3,080,000 won, 44% down from 5,460,000 won last year. The price of a 78-inch LCD TV also dropped 39%, from 8,170,000 won in May of last year to 4,960,000 won in May of this year.
A drop in panel prices was the biggest factor in plunging TV prices. "LCD panels are highly influenced by market prices. LCD technology has been almost equalized among manufacturers. The yield rates for OLED panels are improving, enabling TV manufacturers to sell TVs for lower prices," an LG Electronics official said.
In particular, in the TV industry, LCD panel prices are expected to continue to decline for the time being as Chinese makers started a full-fledged operation of their 10.5-inch LCD panel plants.
TV industry experts forecast that OLED TV prices would continue to fall. "The cost of depreciation at factories is gradually falling and OLED panel yields rises, which will affect TV prices," said Park Jae-keun, a professor of convergence electronics engineering at Hanyang University.