LG has slashed the price of its 55-inch curved OLED TV in the U.S. by half and S$5,000 less than its offered price in Singapore.
LG is attempting to lure customers into buying its 55-inch curved OLED TVs by slashing its price. The latest price drop brings the 55-inch 55EA9800 OLED television set down to $7999 with an instant $1000 rebate to those who are willing to pay cash. The new price is just half of what LG had offered initially, when the 55-incher was launched in July last year for $14,999.95.
The price cut is not limited to the U.S. customers, but extends to Singapore. Launched in October last year, the 55-inch curved TV went on sale for S$14,999 (US$12,051.26). LG announced that the television set, which is the only one of its kind in Singapore, will now retail for S$9,999 (US$8,033.91), a steep $5,000 (US$4,017.35) discount. Even with the price drop the TV set is still expensive to buy, but such a massive price cut within just 4 months of launch is significant.
The offer also reaches the U.K., with three retailers offering the 55-inch 55EA9800 OLED models for £4,999, a flat £3,000 ($4,910) discount on the screen from its original £7,999 ($13,100) sale price.
"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," CNET quoted William Cho, CEO of LG Electronics USA, as saying in a statement.
The latest move by LG comes as the company prepares for newer models, later this year. LG confirmed to CNET that the 55EA9800 model will be a part of the company's TV lineup until mid-year. This coincides with the new lineup of LG OLED TVs unveiled at CES 2014 in January this year. The company is set to bring the 55-inch Gallery style model, the 65-inch model and colossal 77-inch set with 4K screen among other features. It is evident that the company wants to make more space on the shelves to place its new lineup.
The monstrous ultra high-definition (UHD) TVs in 84- and 85-inch sizes from different brands seem to be holding in Singapore. Samsung's 85-inch model sells for S$49,999 (US$40,172.75), Sony Bravia KD-84X9000 retails for S$35,999 (US$28,924.15) and LG's 84-inch model is an exception with S$2,000 less than its launch price, retails for S$22,999 (US$18,479.03), CNET Asia found.
