SEOUL (Reuters) - South Korea's LG Electronics Inc (KS:066570) will launch a new range of high-tech TVs in early 2015, beefing up its line-up while it strives to cut costs that make its prized light-emitting diode (OLED) sets too expensive for most consumers.
A spokesman for the world's No. 2 TV maker after domestic rival Samsung Electronics Co Ltd (KS:005930) said on Tuesday LG will start selling products using quantum dot technology early next year. He didn't disclose details including pricing.
The technology incorporates a film of tiny light-emitting crystals into regular liquid crystal displays (LCD), boosting picture quality. LG will have 55-inch and 65-inch ultra-high definition quantum dot TVs on display at the major CES trade show next month in Las Vegas.
Japan's Sony Corp (T:6758) is so far the only major TV maker selling quantum dot models.
LG was widely expected to launch quantum dot TVs next year, having declared its intention to use the products in a dual-track strategy as the firm and its affiliate LG Display Co Ltd (KS:034220) try to push OLED prices down. Analysts say it may take the LG firms several years to meet that goal.
The OLED TV sets remain expensive: a 65-inch ultra-high definition model launched in Korea earlier this year was priced at 12 million won (£7,023). A comparable Sony quantum dot TV costs about $3,799, according to the Japanese firm's website.
Samsung Electronics has said quantum dot is one of many technologies it is considering. Analysts expect Samsung Electronics to launch quantum dot TVs next year, and believe it could be more aggressive in pushing the products than LG, which remains committed to OLED.
The LG spokesman said Dow Chemical Co (N:DOW) is supplying quantum dot material. Dow Chemical confirmed the supplier relationship in an emailed statement.
Dow is building a quantum dot factory in South Korea using technology from partner Nanoco Group Plc (L:NANON), with production starting in the first half of 2015.
LG shares were down 1 percent as of 0435 GMT, compared with a 0.7 percent fall for the broader market (KS11). The stock is up more than 50 percent this year, boosted by firm TV sales and a turnaround at its smartphone business.
(Reporting by Se Young Lee; Editing by Christopher Cushing and Kenneth Maxwell)