Englewood Cliffs, N.J. – LG Electronics said Monday it has cut the price yet again on its 55-inch curved screen FullHD OLED TV, as it seeks to secure a dominant position atop the new technology category.
LG said model 55EA9800, which launched last year at a $14,999 suggested retail, has been reduced to a $7,999 suggested retail.
The suggested retail had been reduced to $9,999 last September.
In announcing the price cut, LG Electronics USA president and CEO William Cho said the move was “consistent with LG’s plans to significantly grow the OLED market in 2014.”
Also effective immediately, LG said it is offering a $1,000 instant rebate for U.S. consumers who are ready to purchase now, pushing the final price of the 55EA9800 to less than $7,000 during the promotion period.
“These moves mean that LG OLED TVs are now selling for less than half of their introductory price of $14,999.95 when LG launched the first OLED TVs in the United States last July,” the company stated.
LG introduced a range of new OLED models for the 2014 selling season, including a flagship 77-inch curved-screen Ultra HD OLED set due later in the year.
LG said the model 55EA9800 will continue to be available throughout the first half of 2014.
“With our superior WRGB technology, LG has been a leader in OLED technology from the very beginning, and our position continues to get stronger,” said Cho. “Razor thin OLED TVs, with their amazing color and contrast ratios, represent the first major change in TV display technology since the rise of LCD/LED large-screen HDTVs. Our goal is to grow the U.S. OLED TV market by making OLED TVs more affordable. And this is another step in that direction.”