LAS VEGAS, Jan. 2 (Korea Bizwire) — LG Electronics Inc. unveiled a vision for its TV business on Monday ahead of the opening of CES 2023, emphasizing connectivity and customization.
The consumer electronics giant will dedicate itself to fulfilling the vision of Sync to You, Open to All, it said, based on its advanced organic light-emitting diode (OLED) display technologies and webOS, its own smart TV operating system.
At the world’s most influential tech trade show, set to open on Thursday, LG will unveil the new OLED evo TV that boosts brightness by around 70 percent compared with existing OLED TVs and reduces reflection of light on the screen.
OLED evo is the major TV maker’s second-generation OLED panel, with more light per pixel than before and improved brightness and better color accuracy.
Blacks are deeper and darker, and other colors are richer and creamier on LG OLED evo TVs, according to the company.
The new TV also became smarter with an improved artificial intelligence processor, which enables it to analyze even a show producer’s intention of making a certain scene and automatically adjust the brightness and other effects.
When turned on, the webOS home screen will appear on the latest OLED evo TV, the company said, just like a smartphone, allowing users to pick whatever applications they wish to watch.
LG said its smart TV platform now offers more than 2,500 applications and is fitted with a more advanced recommendation algorithm tailored to individual taste and need.
The South Korean tech firm is counting on the success in the high-margin, premium TV segment to keep its competitive edge over rivals.
The tech firm’s TV business logged an operating loss of 55.4 billion won (US$43.5 million) during the July-September period, due to bigger marketing expenses amid intensified market competition and high logistics costs.
Pandemic-driven pent-up demand for home appliances, including TVs, has lost steam, and aggressive rate hikes in major economies to bring inflation under control have significantly weakened consumer spending power.
According to research firm TrendForce, global TV shipments in the second half are forecast to undergo a 2.7 percent on-year decline to reach 109 million units.
TV shipments in the fourth quarter are expected to grow by 10.8 percent on-quarter to 56.96 million units but down 3.5 percent from a year ago, it said, adding that the annual shipment for 2022 is expected to reach a decade low of 202 million units.
During an earnings call in late October, LG said it planned “to ease cost burden by raising the sale prices of our premium lineup,” of which demand is still robust among deep-pocket consumers.