LG Electronics said that it welcomed the possibility that its competitor Samsung Electronics could re-enter the OLED market.

It is analyzed that LG Electronics showed their strong confidence over OLED TV competition as it has led the market over the past 10 years.

Park Hyung-se, head of LG Electronics' HE business division, held a conference call and said, “We have not officially heard that Samsung Electronics will re-enter the OLED TV market. However, it is very welcome if it joins.”

“So far, more than 20 major TV producers have entered the OLED market. And if Samsung Electronics joins for the last time, it can be seen as a positive opportunity to expand the market and ecosystem,” he said.

“It is a positive sign that all companies recognize the potential of OLED.”

Park also said, “Even if additional competitors enter the OLED market, LG Electronics will continue our market dominance strategy.”

LG Electronics commercialized OLED TVs for the first time in the world in 2013 and has accounted for more than 60% of the global OLED TV market share.
Currently, more than 90% of the total TV market is LCD (liquid crystal display) TVs, but the market for OLED TV, a high-definition TV that can generate light without a backlight, is also growing rapidly. (ANI/Global Economic)