[Photo provided by LG Electronics Inc.]

LG Electronics Inc. has hit the sweet spot in the premium TV market with its 48-inch 4K OLED TV, scoring a bumper run of sales thanks to stay-at-home entertainment boom from global pandemic.

The LG 48-inch CX 4K OLED TV sold out in one minute during the South Korean electronics maker’s three pre-order events held locally since its domestic release in late July, according to industry sources on Thursday. The model also had gone out of stock in just one week of its release in some European markets.

The demand for LG’s latest OLED TV, reportedly, has been high from consumers looking for a mid-size, good-quality screen, especially gamers. The 48-inch CX 4K OLED TV has 3840 x 2160 resolution and the same high pixel density comparable to that of the 96-inch 8K TV, claimed by the company.

The model is also NVIDIA G-SYNC compatible, meaning the graphics are rendered in sync with a gaming console to allow seamless gaming experience without screen stuttering. The price makes it more appealing, being available at 1.89 million won ($1,595) while other high-quality gaming monitors easily go up to cost over 2 million won.

Reflecting the fast-growing demand for the model, market researcher Omdia in a report projected LG 48-inch OLED TV shipments to be doubled to 229,000 units next year and reach 320,000 units by 2024 after growing 26 percent, on average, every year to overwhelm large-screen OLED TVs sized 70 inches or bigger.

LG Electronics so far has rolled out the 48-inch 4K OLED TV in Korea, the United States, Japan, Hong Kong and some European countries, with a plan to make inroads into additional markets.

Currently, LG Display Co., the panel making affiliate of LG Electronics, is the sole supplier of the electronics marker’s 48-inch OLED screens. The 48-inch OLED panels are made at the display panel maker’s Guangzhou plant in China that recently started mass production.

By Kim Gyu-sik, Chun Gyung-woon, and Cho Jeehyun

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]