According to the top officials of the South Korean electronics, giant LG would be investing nearly $8.6 billion globally over the next three years in OLED TV technology.
Howard Lee the director of entertainment at LG India says that â€œin the sidelines of a launch event they are going to invest nearly $8.6 billion over the next three years globally because we feel that the OLED will become an industry standard technology in the years to come, as the demand is growing exponentiallyâ€.
According to our sources OLED or organic light emitting diode is a technology which produces better quality images in terms of resolution and color.
LG also stated that the demand for the OLED will see a rise from 5,000 units in 2013 to 1 million units by 2016 ends.
According to Lee, India contributes only 1.5-2 percent of the total in OLED TVâ€™s revenue and also added that India has many consumers who love to have hi-tech TVs in their houses.
In India, the company has already launched its two premium segment TVs with 4k resolution priced respectively at Rs. 5, 79,990 and Rs. 3, 84,900.
It is also noted that the 4K resolution is the higher version of full high-definition technology and supports 4096*2160 pixel results in sharper images.
Until now LG manufactures only curved OLED TVs but the company is also planning to launch larger-sized screens and flat TVs with OLED technology, Lee explained.
According to the sources, the new TVs are out with LG-developed WebOS 2.0 system for a smart TV experience and sound-engineering company Harmon Kardonâ€™s sound bar.
Lee also said that the company is producing all OLED TVs at its Pune and has recently doubled the annual production capacity from 1.5 million units to three million units.