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LG Electronics takes lead in narrowing price gap between OLED TVs and LCD TVs

The price gap between OLED TVs and LCD TVs is narrowing rapidly.

As of the end of February 2020, the average price of an OLED TV was US$2,538 against US$1,116 of an LCD TV, according to market research firm Omdia. The price difference represented a reduction of about US$1,000 from a year ago when their prices were US$3,557 and US$1,047, respectively.

In particular, the price gap is shrinking faster at the premium level. The average price of an 4K 55-inch LCD TV decreased by about US$450 from US$1,794 in 2018 to US$1,343 in 2019, while the price of an OLED TV of the same size fell more sharply from US$2,062 to US$1,622 during the same period.

This marked the first time that the average price of an OLED TV fell below the US$2,000 mark. When premium 55-inch products are compared, the price difference between the OLED and LCD TVs dropped by about US$100 in one year.

TV industry insiders expect the price difference between OLED TVs and LCD TVs to further contract. LCD panel prices rebounded this year after going downhill due to a price war initiated by Chinese LCD TV makers, while those of OLED panels has been on a decline.

As OLED TVs have proved superior to LCD TVs in terms of picture quality, the transition from LCD TVs to OLED TVs will accelerate if the price difference is narrowed. On March 22, Consumer Reports, the leading consumer magazine in the United States, gave an LG OLED TV (model: 65C9) the highest overall rating among more than 200 evaluated models, and the model received the highest points in Europe as well.

―Business Korea

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