With its credentials as a pioneering, trendsetting brand already firmly established, LG is poised to go one better into 2016 with plans to bring the LG OLED TV within the income reach of the typical consumer.
LG’s leadership in OLED TV technology has been well earned. Its TV has been hailed for its cutting edge smart technology which parades a number of qualities that at some point appeared remote and futuristic to industry watchers: its display format’s perfect blacks; its intuitive competence in creating life-like images and a colour palate that mimics reality to create a perfect original.
Like most technology products, the LG OLED TV has had to go through the normal price glide path, which at the initial stage of market entry, is normally marked by high manufacturing costs, with the purchase price following the same general skew.
But time and attendant investment in bankable production infrastructure is already proving to be the leveller that it is, and with OLED’s price already mirroring that of LCD, it is envisaged that the former will be a key play for LG into the 2016 and beyond.
With LG’s tradition of consumer-centric innovation, OLED displays are already unmatched within the category, and as further advances are made, costs can only go one way: south. Low costs of production and hence shelf price will only bring this innovative and revolutionary format within the reach of many, especially Africa’s growing middle class. Against such a backdrop, it is safe to say that one of the most likely definitive trends, going forward, is the “mainstreaming” of the OLED format by LG.
At LG and within its consumer universe, a likely game-changer in the coming year will be the further refinement of HDR technology, which has the potential, with LG’s proven product flexibility, to further enhance OLED’s already peerless display and ergonomic design attributes.
“With HDR, TVs can display an incredibly wide dynamic range of brightness, greatly enhancing color contrast ratio and making OLED’s perfect blacks appear even blacker. As HDR continues to gain a foothold in the market, consumers will become more aware of the technology and start to demand it en masse,” says LG.
Buoyed by steadily growing economies, a consumer middle class is slowly emerging in Africa, which is already displaying an appetite for such products. Retailers are moving in to cash in on these trends.
“Kenya’s retail industry continued to record positive growth in 2014 and future prospects are favourable, underpinned by a growing middle class, increasingly sophisticated consumers, the construction of new shopping malls and the continuing expansion of the four leading supermarket chains,” Euromonitor says in its latest report on Kenya.
Even then, price sensitivity remains a major issue in markets such as Kenya, especially within the lower middle class and any help on this front, backed by LG’s established technology leadership and strong tradition of research and development (R&D) driven by the quest for personalized results, will be welcome. And that is where the LG OLED TV is likely to come into play.