An OLED TV under US$1,000
An OLED TV under US$1,000 has appeared in the TV market. Vizio, a U.S. TV manufacturer, recently started a promotion for a 55-inch 4K OLED TV that is sold at US$900 at Best Buy, the largest retailer in the United States. The model was sold for US$1,300, but consumers can buy it at a 31 percent discount when they log in the Best Buy website using their Best Buy accounts.
The promotion was held as a preliminary event for Black Friday. The initial shipment price reached US$2,000, but the price was cut to US$1,500 at the end of October and then fell below the US$1,000 mark. Some say that even the line between OLED TVs and LCD TVs are disappearing.
Price competition has been predicted. China's Xiaomi and Vizio jumped into the OLED TV market in the second half of 2020 with models in the 2 million won price range. This is 20 to 30 percent cheaper than LG Electronics' models. While LG Electronics and Sony compete in the OLED TV market with premium products, latecomers are seeking to secure a foothold based on price competitiveness.
In particular, Vizio is worth noting as the U.S. budget TV producer is making aggressive inroads into the OLED TV market with models cheaper than those of Chinese TV makers.
"The OLED TV market is growing as LG Display’s Guangzhou OLED panel plant is operating normally. Panel supply is increasing and competition among companies is beginning to escalate in earnest," an industry source said. Price competition is expected to contribute to popularizing OLED TVs by widening price ranges and expanding OLED TV choices. LG Display, which is the exclusive supplier of OLED TV panels, is expected to benefit from this change.