LG has today announced that its flagship 55-inch Curved OLED TV will be reduced by $2,000 to an RRP of $5,999, in the hunt for a greater portion of the market.

The company justified the decision to drop the price  by stating that LG’s engineering expertise has enabled it to produce a  greater volumes of OLED televisions.

Lambro Skropidis, general manager marketing at LG Australia believes it has ‘cracked the code’ on OLED TV production efficiency.

“We believe LG is the only company in Australia that can currently supply OLED TVs in significant volume. Much has been written about companies struggling with OLED manufacturing, but not LG.

“We have been able to master the manufacture of OLED TV technology, and we’re incredibly excited that we are able to innovate and lead in this new segment. This is a powerful breakthrough that consolidates LG’s position as one of the world’s leading consumer electronics companies,” he said.

LG is currently establishing OLED manufacturing facilities throughout the world in anticipation of increased demand for OLED TV technology.

“We see OLED technology as the future of television, and we believe consumers with plasma and LED/LCD TV’s will look at superior OLED technology as a real option for their next purchase. The new price point will bring our most innovative TV technology to more Australians seeking greater picture quality combined with absolute style,” he added.