LG Electronics' sales of organic light-emitting diode (OLED) TVs broke through the milestone of 4 million units in six years since the company started to mass-produce them.
In 2018, LG Electronics sold 1,564,500 OLED TVs, an increase of about 33 percent over the previous year, market researcher IHS Markit said on March 24.
LG Electronics began the world's first mass production of OLED TVs in 2013 and since then, had sold a total of 3,803,000 units by the end of last year. LG Electronics sold 3,600 units in 2013 when it launched its first OLED TV model but its sales increased more than 20-fold to 76,400 units in 2014, followed by 313,900 units in 2015 and 666,400 units in 2016. Its annual sales topped one million units for the first time in 2017. In the first quarter of this year, the Korean TV giant sold 365,000 OLED TV units.
LG Electronics’s OLED TVs are enjoying good evaluations from experts and consumers. They have received high points from a number of reputable rating agencies, including the U.S. consumer magazine Consumer Reports which ranked an LG OLED TV first in a performance test in 2019.
LG Electronics plans to launch an aggressive sales campaign in order to further solidify its position in the premium TV market this year. The company launched a number of new products with improved performance early March and decided to prune TV prices by up to 30 percent compared to last year. Through this, LG Electronics plans to ramp up the share of OLED TVs in its total TV sales from 20 percent in 2018 to 25 percent in 2019.