Englewood Cliffs, N.J. — LG Electronics has officially cut the price on its 55-inch curved-screen FullHD OLED TV to $9,999 in the U.S. and has dropped the price on its current 55-inch Ultra High-Definition LED LCD TV by another $500, to $4,499, the company confirmed to TWICE.
An LG spokesman confirmed dealer leaks to TWICE that it has cut the unilateral pricing policy (UPP) ticket of the 55-inch curved-screen FullHD OLED TV (model 55EA9800) in line with a recent announcement by the parent company in South Korea.
In recent weeks, LG Electronics announced in South Korea that it had slashed the prices on the 55-inch, curved-screen OLED TV by nearly 30 percent to 10.9 million won ($9,788) from 15 million won previously, in the Korean market.
LG confirmed U.S. dealer accounts phoned into TWICE that a similar cut was being applied to the U.S. model in this market. The new UPP on the set, which is in effect now, lopped a whopping $5,000 off the original $14,999 introductory price.
Even with the cut, LG’s UPP on the set is $1,000 more than its chief rival Samsung is asking for its recently introduced curved-screen FullHD OLED set.
In a recent statement issued after the Samsung TV was introduced here, John Taylor, LG corporate communications VP, justified his company’s premium price positioning by saying the 55EA9800 “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.
Meanwhile, Taylor also confirmed that the UPP ticket on model 55LA9700 55-inch Ultra HD LED LCD TV has been reduced again from the recently adjusted $4,999 to $4,499. It was originally priced at $5,999.
The reduced price now matches the recently adjusted UPP of Samsung’s 55-inch Ultra HD LED TV.
LG’s 65-inch Ultra HD LED model 65LA9700 will remain at the recently adjusted $6,499 UPP, LG confirmed.