LG to invest US $8.5 billion in the next 3 years globally in OLED: Gogi Kapoor

After the launch of world’s first 4K OLED TV, LG is looking for an investment of US $ 8.5 billion in the next 3 years in OLED technology. And, for this it is all set.

LG will launch its 77” OLED TV in India by December this year, said Gogi Kapoor, marketing head-Home Entertainment, LG India.

Indian market though is an emerging market for high-end electronic goods, but there are many early adapters too. From 1.5-2 million capacity per year (OLED) LG have added a whooping capacity of 3 million last month.

“The contribution of Indian market is a big number...Our total India demand is 1.5 -2% (in OLED technology)...I am optimistic we can have higher contributions in the next coming months,” said Hyun Woo (Howard) Lee, Director, Home Entertainment-LG India.

They also have a consumer base of 40-50 per cent for large screens (40” and above) in India inspite of it being of high costs.

Besides high investment plans, LG have other plans too. Next year they are planning to launch flat OLED versions in India, said Gogi. He further added that though their USP is curve OLED, but these will add variety to their products and also he thinks the demand of flat OLED will be there in the market.

To add to it, LG is also one of the few global electronics companies who are manufacturing in India. They are manufacturing OLED TV from their Pune plant.

(Image credits: Indiatimes)