Samsung ties up with LG Display for 83-inch OLED TV in US

Samsung Electronics Co., the world’s top TV maker, joined hands with its South Korean rival LG Display Co. for the large organic light-emitting diode TV sector to expand its share in the premium market.

Samsung Electronics US unit said on Tuesday it launched the 83-inch OLED 4K TV, expanding its OLED TV lineup, which includes 55-, 65- and 77-inch models. The largest TV is available on Samsung.com/us and retailers nationwide at a suggested price of $5,399.99.

“Large screen sizes are the fastest growing segment in the TV industry. With this new 83-inch class OLED S90C 4K TV model, we are providing yet another option for people to experience the benefits of OLED TV from Samsung, on an even bigger screen,” said James Fishler, Samsung Electronics America vice president for home entertainment & display division.

The latest OLED TV is equipped with the white OLED panel produced by LG Display, which is the only company that manufactures 83-inch displays, according to industry sources in Seoul.

TO EXPAND OLED TV MARKET SHARE

Samsung Electronics has been expected to cooperate with LG Display as the South Korean home appliance giant resumed the OLED TV business earlier this year by launching new models after it folded the business in 2015 due to its low OLED TV production yield. The company has South Korea’s largest display maker as a subsidiary – Samsung Display Co.

LG Display has already left the door open for cooperation with Samsung Electronics, vowing to actively collaborate with anyone who recognizes the value of OLED and helps create synergy in the future during its earnings call for the first quarter.

Samsung Electronics has been focusing on quantum dot light-emitting diode (QLED) TVs and lagging behind its rivals such as LG Electronics Inc. and Sony Corp in the OLED TV market.

Samsung Electronics accounted for only 6.1% of the global OLED TV market, far lower than the global industry leader LG Electronics with a 54.5% share and Sony with 26.1%, according to market research firm Omdia.

The global OLED TV market was forecast to grow more than 30% to 11 million units by 2026 from estimated 8.4 million units this year, while their sales were predicted to account for more than 50% of the world’s market for premium TVs of $1,500 per unit or more by 2024 from36.7% in 2022, the research firm said.

Write to Ye-Rin Choi at rambutan@hankyung.com
 
Jongwoo Cheon edited this article.