LG Elec says aims to triple OLED TV sales this year

The LG company logo in Las Vegas, Nevada January 6, 2014. REUTERS/Robert Galbraith

SEOUL (Reuters) - South Korea’s LG Electronics Inc aims to at least triple sales of its next-generation organic light-emitting diode (OLED) televisions this year, a senior company executive said.

An LG spokeswoman confirmed remarks made by LG TV chief Kwon Bong-suk on the sidelines of the CES trade show in Las Vegas.

The executive said LG could at least triple sales of OLED sets based on fourth-quarter numbers but did not offer specifics including how many OLED TVs the firm sold this year.

LG, the world’s No. 2 TV maker behind domestic rival Samsung Electronics Co Ltd, is betting heavily on OLED, hoping that the new technology will help it get ahead of rivals.

The firm cut prices of some OLED TV models by as much as 45 percent late last year in the United States.

Reporting by Se Young Lee; Editing by Edwina Gibbs