(December 3, 2023) Wrapping up the week, we have several pieces of news pertaining to LG Electronics and its OLED TV business. As initially reported by South Korea's news outlet The Elec, LG says OLED sales are "sensitive to consumer income" and that 2023's economic slowdown combined with geopolitical issues in Europe will result in a decline in sales for the year. LG's subsidiary, LG Display, which manufactures OLED panels used by LG, Sony, Panasonic, Philips, and others, predicts it will end 2023 by manufacturing nearly 1.8 million fewer large OLED panels compared to last year's 6.8 million units. During Q3 of 2023, panels for TVs accounted for roughly 23% of LG Display's overall revenues; panels made for computers and mobile devices account for most of the company's income.
Despite fewer OLED TV sales, year-on-year profits for LG Electronics are expected to increase, primarily due to financial successes in its home appliance and vehicle solution businesses.
According to Twice, LG Display has also confirmed that it will soon offer 32, 34, and 39" OLED panels. While these sizes will likely find their way to monitors, it's not unreasonable to assume the 32" version could be used in TVs. LG Electronics and other manufacturers that use LG Display OLED panels currently do not offer a TV model sized smaller than 42". It's worth noting that LG Display's chief rival, Samsung Display, currently makes a 34" quantum dot OLED panel.
Twice says LG Display hasn't revealed a manufacturing timeline but suggests that these new smaller panel sizes might be shown at CES 2024.