LG, a South Korean manufacturer of electronics are preparing to invest $665 million into the production of OLED technology. They hope that the investment will be able to help them claw back market share from Samsung who are their main rival.

LG have managed to release the first 55 inch OLED screen TV in January 2013. The company want to invest more money into this sector so they can compete against Samsung over the coming years when OLED technology drops in price and becomes affordable to a larger audience.

Right now a large screen OLED television such as the one released in January this year can cost around $10,000 however big scale production in 2014 should see the price drop significantly. Many enthusiast users are waiting with baited breath for more OLED screens to hit mainstream in the coming years as the technology demands less power, can deliver better colour reproduction and overall image quality compared to current LCD/LED technology.

I spoke with an LG insider last night in Taipei who said “LG want their OLED televisions to lead the way in future years. The only way to do this is to spend a lot of money developing the technology, especially as prices drop over the coming years. OLED is the way forward, current technology just can't compete with the picture quality possible from a high quality OLED panel.”

Kitguru says: LG are expecting to increase their TV sales by 15% this year.

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