"We are extremely confident that our state-of-the-art ULTRA HD and OLED TV models will establish a new benchmark this year," said Hyun-hwoi Ha, president and CEO of the LG Electronics Home Entertainment Company. "With our strong competitiveness in display technology including ULTRA IPS, CINEMA 3D and the unrivalled simplicity of the webOS Smart TV platform, we are optimistic that in 2014, LG will be the one to watch in the TV industry."
LG ULTRA HD TVs incorporate In-Plane Switching (IPS) panels, LG's ULTRA HD Engine Pro processors to achieve the 4K resolution (3840 x 2160) resolution along with a proprietary chip working in conjunction with the engine to eliminate any visual artifacts. LG?s newest ULTRA HD sets all have the ability to upscale standard HD and Full HD content to near 4K quality.
LG's CINEMA 3D technology is producing a 3D effect in 4K resolution, which is more impressive on LG's larger ULTRA HD units. In additon, the 3D control feature makes it possible to adjust the degree of 3D at the touch of a button. All 2014 ULTRA HD TV models from LG are equipped with a 3D conversion engine.
LG has teamed up with Harman Kardon to enhance the audio of the new TVs. In addition, the company is working with a number of global content providers such as FOX and Netflix, terrestrial, cable and satellite broadcasters to deliver more 4K content.
LG is seeing intense competition with Chinese rivals, but the company says there is still a wide technology gap between LG products and those manufactured by Chinese budget TV makers.
LG said the 49-inch curved UHD TV will sell for about 2 million won. The curved 55-inch UHD TV will be sold at a suggested retail price of 3 million won.
LG also hopes to make OLED TVs mainstream.
Commenting on worries that its aggressive pricing policy concerning these TVS may hurt the firm's profitability, Ha said, "LG is ready to embrace a fall in profitability. If those TVs become more popular, we will be able to generate more profits."
The company has announced a lineup of both FULL HD as well as 4K ULTRA HD OLED TV models in 77-, 65- and 55-inch sizes.
LG plans to boost sales in the United States and Europe by cutting the prices of OLED TVs.
"OLED TVs and UHD TVs are ready to go into the mainstream. LG will clearly lead initiatives by guaranteeing a greater affordability to customers," said Ha Hyun-hwoi, president and CEO of its home entertainment division.
"LG is ready to embrace a fall in profitability. If those TVs become more popular, we will be able to generate more profits," he added.
Ha also said the defect rate of LG?s OLED TVs has dropped to a "manageable level."
Following the Korean launch, LG's ULTRA HD TVs, OLED TVs and CINEMA 3D Smart TVs will roll out in key markets commencing later this month.