By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Englewood Cliffs, N.J. – The Ultra HDTV price slashing continued this week, after retailers revealed to TWICE that LG Electronics has responded to Sony’s and Samsung’s recent price moves by cutting the prices on its recently introduced 55- and 65-inch 4K LCD TV models.
An LG spokesman confirmed that the unilateral pricing policy (UPP) adjustments will take effect September 1, and will reduce the price tickets of the 55-inch 55LA9700 by $1,000 from $5,999 to $4,999, and the 65-inch 65LA9700 by $1,500 from $7,999 to $6,499.
John Taylor, LG’s corporate communications VP, said the price cuts were made to “keep LG Ultra HDTVs competitive in the marketplace.”
As reported by TWICE, Samsung significantly dropped prices on its F9000-series Ultra HDTVs August 25, following price cuts previously announced to retailers by Sony, and taking effect the same day.
Samsung’s UN55F9000 55-inch Ultra HD now sells at a $4,499 unilateral pricing policy (UPP) tag, $1,000 lower than the previously listed price on Amazon. The 65-inch UN65F900 model was reduced to a $5,999 UPP – a more than $1,500 reduction.
Sony started the price moves about two weeks ago by notifying dealers of Ultra HD price cuts set for Aug. 25. Sony reduced the UPP of its 55-inch XBR-65X900A by $1,000 to $3,999 and its 65-inch XBR-65X900A by $1,500 to $5,499.
LG’s Ultra HDTV moves come at the same time that LG executives in Korea told the Wall Street Journal that the price on LG’s new 55-inch Full HD 1080p curved OLED TV has also been hacked nearly 30 percent in the Korean market to 10,900,000 won ($9,788) from 15,000,000 won previously.
A U.S. dealer, who asked not to be named, said he was told LG will similarly cut the price here on its model 55EA9800 55-inch curved OLED TV to a $9,999 UPP, from the original $14,999 introductory price.
The Wall Street Journal reported that LG’s OLED price cut was made to make the set affordable to a wider pool of consumers.
LG also reduced prices on its 55-inch, flat-screen OLED TVs to 9,900,000 won each starting this week, from 11,000,000 won previously. That set has not been introduced in the United States.
In a statement issued after Samsung’s U.S. OLED TV price was revealed for the first time, LG’s Taylor justified his company’s premium price positioning by saying: “LG’s curved OLED TV, that’s been on sale in the U.S. since July 22, is a premium product that commands a premium price because of its superior performance and styling.”
Samsung introduced its KN55S9C 55-inch curved OLED TV at an $8,999 UPP price on Aug. 13th.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.