Cashing on the growing demand for the big screen panels, consumer durable major LG today launched two models of 4k OLED TV in India. The 65 inch model is priced at ₹ 5.79 lakh, while the 55 inch screen model will cost 3.84 lakh.
"This year we are expecting to sell over one million sets globally, while demand in India is still very small. We expect a significant increase in the demand for OLED TV in the country," LG India Director Home Entertainment Howard Lee told reporters.
At present, above 40 inch panels account for about 40-59 per cent of LG's total TV sales in India. He further said that LG is also looking at maximising its line of OLED TV range.
When asked if the company will launch smaller screen size OLED TVs in India, Lee said "there is some possibility for LG to have smaller screen OLED TV but nothing is decided right now".
LG will also invest $8.5 billion globally in next three years in the production of OLED TV.
The South Korean firm has also expanded its television manufacturing capacity at its plant in Pune from two million units per annum to three million.
However, he declined to share specific investment. LG is also gradually increasing localised components in its panels.
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