LG Electronics eyes OLED TV sales traction on burgeoning demand in Europe - Pulse by Maeil Business News Korea - Pulse News

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LG OLED Gallery TV. [Photo by LG Electronics Inc.]

South Korea’s LG Electronics Inc. expects sales traction in OLED TV on burgeoning demand in Europe.

According to market research firm Omdia, previously IHS Markit, OLED TV sales in Europe are forecast to reach 268,400 units in the July-September period, adding 14.6 percent or 34,200 units from a year ago.

The addition takes up much of the estimated gain in the global scale. OLED TV sales across the globe are expected to increase 47,600 units to total 666,200 units in the third quarter.

To cement its lead in the booming European market, LG Electronics is planning to focus more on premium sets of 2020 lineup that earned the highest score in a local consumer test. LG OLED Gallery TV, or 55GX was crowned as the best TV in this year’s performance test on 60 models by Spain’s consumer magazine OCU Compra Maestra, becoming the first model that scored highest in a consumer test in Europe.

“Winning best scores in a European magazine’s first consumer test for 2020 OLED TVs adds symbolic credential to LG Electronics name as Europe is the largest market that accounts for half of the global OLED TV sales,” said an official at LG Electronics.

By Chun Gyung-woon and Lee Ha-yeon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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August 11, 2020 at 12:59PM
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LG Electronics eyes OLED TV sales traction on burgeoning demand in Europe - Pulse by Maeil Business News Korea - Pulse News

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