Friday, November 25

LG found a way to make OLED TVs for less: let China do it

LG managed to reduce the cost of manufacturing its OLED TV panels by a significant margin. Will this lead to cheaper but quality TVs for consumers?

LG managed to reduce the cost of manufacturing its OLED TV panels by quite a significant margin with the help of its factory in China. Its cost-cutting efforts are said to affect the production of an even wider range of televisions in the future, potentially creating a positive ripple effect for consumers. LG is known for many things, from its range of smart home appliances to high-end OLED TVs and even its face mask with technology.

In addition to producing various innovative smartphone models over the years, the South Korean tech giant is also known as one of the largest suppliers of LCD and OLED display panels. LG Display, a subsidiary of LG, has been operating for more than 20 years, supplying display panels for renowned technology companies such as Apple, ASUS, Dell, Philips and Sony. With the arrival of LG’s rumored 97-inch TV just around the corner, it makes sense for LG to find means to ensure that the cost of its panels doesn’t exceed the retail price of its TVs.

It seems LG is already taking action for that, and it all starts with its latest LG display factory, which opened last year in Guangzhou, China. According to flatpanelshd, its Chinese factory was able to reduce the cost of its 48-inch displays by as much as 14%. This was achieved by minimizing your costs and expenses in terms of overhead, labor, depreciation, and sales management. While the results affected only certain displays, Display Supply Chain Consultants, a group that specializes in display-based supply chains, believes the same will also apply to its 65-inch displays soon, as well as double sales. of LG display panels from 2020. Furthermore, LG’s factory in Guangzhou is said to be capable of manufacturing various sizes of display panels at reduced production costs.

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How LG Display Cost Reduction May Affect Consumers

LG might have doubled down on the smartphone game, but its impact on the broader spectrum of consumer electronics remains significant. That said, many well-known brands such as Sony and Panasonic still rely on LG for their smart TV displays, and LG’s cost-cutting measures should allow it to meet larger demands more quickly and efficiently. This also helps speed up the mass production of its much larger 80 to 100-inch TVs in the process, possibly allowing them to hit shelves earlier than planned.

While this might not exactly guarantee that consumers will soon get larger TV screens at lower prices, the supply of larger TVs is likely to increase. The greater the supply of these larger screen televisions on the market relative to consumer demand, the greater the likelihood that their prices will be more affordable. Of course, consumers shouldn’t hold their breath in terms of drastic price cuts in the short term, especially since LG is still very capable of charging customers $ 100,000 for a TV.

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