'LG OLED TV' 10th Anniversary... Jo Ju-wan "I felt it would succeed" Jung Ho-young "Market slump is a stepping stone for leap"

US Las Vegas OLED TV 10th Anniversary Event
LG "Leading the Mainstream Shift from LCD to OLED"
Jo Joo-wan & Jung Ho-young, OLED Innovation and Growth Video Message

At the LG Electronics press conference held on the 4th (local time) at the Mandalay Bay Convention Center in Las Vegas, Nevada, USA, the site of the world's largest electronics and IT exhibition CES 2023, CEO Jo Joo-wan spoke about the 10th anniversary of LG OLED. (Photo by Yonhap News)

[Asia Economy Reporter Moon Chaeseok]

"While competitors focused on LCD (Liquid Crystal Display)-based UHD (Ultra High Definition) TVs, innovative OLED (Organic Light Emitting Diode) technology was introduced. I felt we could definitely differentiate ourselves." - Jo Joo-wan, CEO of LG Electronics

"I believe the recent macroeconomic conditions and market difficulties will serve as valuable groundwork for a greater leap forward." - Jung Ho-young, CEO of LG Display

On the 4th (local time), the two CEOs delivered these remarks via video messages at the OLED TV 10th anniversary event jointly hosted by the two companies at CES 2023, the world’s largest electronics and IT exhibition. They emphasized that LG has led the OLED display era and will continue to do so.

CEO Jo Joo-wan recalled, "When we first launched the OLED TV, we introduced it as a 'new category TV' every morning for 1 to 2 hours over six months in a large room at the U.S. branch with all sales and marketing teams."

CEO Jung Ho-young stressed, "Beyond the past 10 years of journey, we will continuously create a history of innovation and growth through OLED. The potential of OLED and the possibility of creating new customer value are limitless."

Jung Ho-young, CEO of LG Display. (Photo by LG Display)

The two companies pledged to continue creating new customer value as industry leaders and to deliver inspiring experiences that innovate customers’ lives.

Park Hyung-se, Vice President and Head of LG Electronics HE (Home Entertainment) Business Division, and Lee Hyun-woo, Executive Vice President and Head of LG Display Large Business Division, jointly explained the direction of the OLED business and areas of mutual cooperation.

Vice President Park said, "Thanks to LG Display’s core technology, OLED TVs have been able to realize perfect black, the foundation of perfect color. We raised the living room’s sophistication by creating form factor innovations possible only with OLED, such as wallpaper and rollable designs, and world’s first 88- and 97-inch models."

Executive Vice President Lee said, "Recently, we have been expanding OLED beyond TVs, with transparent OLED and flexible gaming TV manufacturing collaborations as representative examples. We will continuously strive to expand the OLED display domain and provide new experiences to customers."

Congratulatory speeches from industry and academia followed. Professor Ching Tang, known as the 'Father of OLED' who first discovered the OLED device and invented the light-emitting structure, from the University of Rochester and Hong Kong University of Science and Technology, also congratulated LG on the 10th anniversary of OLED TV.

Professor Tang said, "The biggest winner in the OLED TV competition is LG. Although I discovered it, I sincerely thank LG for solving countless technical challenges and producing the world’s only OLED TV, making it reasonably enjoyable for everyone."

Barry Young, President of the International OLED Association, also encouraged, "LG sold over 20 million OLED TVs even before 10 years of mass production. Meeting high contrast ratio, fast response time, thin bezels, and low power consumption, LG’s steady growth will further solidify its position as a high-end premium display."

The event showcased large OLEDs ranging from the first 55-inch OLED TV to the latest wireless extra-large OLED TVs. Products unique to OLED, such as rollable, bendable, and transparent displays, were also introduced. Particularly, the world’s largest 97-inch wireless OLED TV and ultra-high resolution 88-inch 8K OLED TV attracted attention.