LG Hungary Celebrates Decade of OLED Innovation With new TV Lineup
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LG Hungary has celebrated the 10th anniversary of its OLED panel technology, which has significantly impacted the television market in Hungary over the past decade. The event on April 27 provided an opportunity to discuss the technology’s growth, consumer preferences, and future innovations.
Krisztián Szili, LG Hungary’s marketing director, acknowledged the company’s role in developing OLED technology.
“A decade ago, LG opened a new chapter in television with OLED technology. It’s been a journey filled with challenges and triumphs, and we’re proud to have contributed to the field,” he told the press conference.
Andrea Sztupár, managing director of GfK Piackutató Intézet, discussed the evolution of OLED TV sales in Hungary with Szili.
“Though overall television sales in Hungary did not increase significantly between 2014 and 2022, demand for OLED displays has grown steadily, with nearly 25,000 OLED displays sold annually by 2022,” she noted.
LG Hungary showcased its latest OLED range at the 10th-anniversary event, including G3 and C3 series displays, the world’s first 42 inch adjustable curvature OLED gaming TV, and the stylish Objet Collection series. The products exemplify LG’s dedication to innovation and its commitment to pushing the boundaries of what is possible with OLED technology, it says.
Szili highlighted the unique aspects of OLED technology that have contributed to its popularity.
“OLED displays do not require a separate backlight for pixels, allowing for perfect black representation. This feature has enabled the production of thinner, lighter, and even curved panels for a more immersive, realistic, and richly contrasted viewing experience,” he explained.
Falling Prices
Sztupár elaborated on the increasing accessibility of OLED TVs in Hungary, noting how the price has dropped over the years.
“In 2014, the average price for an OLED TV was nearly HUF 870,000, while in 2022, it was HUF 470,000. These factors and a wider range of products have positively impacted demand. This has been especially evident during major international sports events, such as the European Championships and the Olympics,” she said.
Over the years, the Hungarian market has shown varying preferences for screen sizes. While larger OLED TVs with a diagonal of more than 60 inches (152 cm) were popular between 2015 and 2019, smaller sizes in the 45-54 inches (114-137 cm) category have gained traction since 2020. The 55-59 inch (140-150 cm) range has consistently topped sales charts since 2014.
Another factor contributing to the success of OLED TVs in Hungary is the increasing demand for smart TVs. With built-in internet connectivity, consumers can access streaming services, apps, and social media platforms directly from their televisions. OLED TVs offer an ideal combination of high-quality visuals and seamless integration with smart features, making them a popular choice for consumers.
Looking ahead, LG Hungary says it is focused on exploring new ways to harness OLED technology, such as incorporating it into transparent, flexible, and rollable displays. These innovations could significantly impact industries beyond television, such as automotive, aerospace, and digital signage.
This article was first published in the Budapest Business Journal print issue of May 5, 2023.
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