The US company dropped the prices on its OLED Ultra HD 4K TVs by 30%-45% and launched a 55-inch 55EG9100 1080p curved OLED TV for $1,999 after $500 instant rebate. With the price shifts, LG US claims that its OLED TVs, “are now priced comparably to many of today’s premium LCD/LED TVs.”
This week LG Australia issued a statement explaining that it had also dropped the original $9,999 price of its 65-inch (65EG960T) 4K Ultra HD OLED TV by 10% to $8,999. The news followed the sudden departure last week of LG national sales manager, Michael Doyle.
More importantly, LG has expanded its 4K Ultra HD OLED TV (EG960T) rollout to a number of different retailers throughout the country. These are RetraVision, The Good Guys, Radio Rentals, R.T. Edwards, Bing Lee, Dick Smith, JB Hi-Fi and Betta Electrical.
The price cuts follow LG’s grim second quarter financial results released in late August. The company reported its lowest quarterly operating profit since Q4 2013 (US$211 million) which was down 60% from the previous year.
Despite remaining the world number two TV manufacturer, LG is struggling in that department, where it registered US$71.5 million) loss. A year before, the division was twice that in profit.