An early look at Korean pricing for LG's OLED TVs suggest a welcome surprise: LG 2021 OLED TVs may be more affordable than ever!
You don't often hear premium TVs being praised for their affordability, but if the new prices are any indication, OLED sets are about to become a lot less expensive as the new 2021 models launch in the coming weeks.
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Korea JoongAng Daily reports that prices are dropping for all LG OLED TVs in 2021, with new models priced up to 20% lower than the launch prices of the equivalent 2020 models.
The 65-inch LG G1 Gallery OLED — the successor to the premium model in our recent LG GX OLED TV review — will be selling in South Korea for 4.6 million won ($4,081), down from the 5.6 million won ($4,968) of the 2020 model, a 17.9% drop in price.
While this price drop may not translate directly to the US market, where the 65-inch LG GX OLED had an MSRP of $3,499 at launch, it's an intriguing possibility.
The new LG G1 OLED will have the same premium design and features as its predecessor, but will also be the first model to use LG OLED evo technology, which promises better brightness and color than current OLED panels can produce.
It's the sort of enhancement that would often signal a price increase, so a smaller price tag on LG's premiere flagship OLED set would be exciting news indeed.
Similar price drops are being seen on other LG models, such as the LG C1 OLED, which is coming down to 4.1 million won ($3,642), an 18% change from last year's 5 million won ($4,436). When we first posted our LG CX OLED review, the was available through most major retailers for $2,799.
LG's less expensive B-Series OLED models are dropping even more, with the 2021 price of 3.8 million won ($3,371) down 19% from last year's 4.7 million won ($4,170).
In 2020, the LG BX OLED TV was the company's most affordable OLED model, with the 65-inch screen size selling for $2,299. Since its launch, that price has steadily dropped, and the set can currently be had for $1,999.
But LG isn't cutting corners to bring these prices down. According to early announcements, all LG OLED TVs in 2021 will boast advanced features, including HDMI 2.1 connectivity, the latest version of Dolby Vision IQ high-dynamic range format, support for current audio like Dolby Atmos and enhanced audio return channel (eARC), as well as gaming features like automatic low latency mode (ALLM) and variable refresh rates (VRR).
It's also a bold move to make as new competitors, like the Vizio OLED TV, lower the bar to OLED entry with relatively affordable pricing. Vizio's 55-inch model has a regular price of $1,299, but has dipped below the $1,000 mark during recent major sales for Black Friday and Super Bowl weekend.
Not mentioned in the report was pricing for LG A1 OLED TVs, a new entry-level model series for 2021 that will be positioned as the more affordable alternative to even the value-focused B-Series OLED sets.
LG hasn't announced U.S. pricing for its 2021 TVs yet, but we expect to get details in the coming weeks. Only time will tell if shoppers in North America will get lower prices on the latest OLED TVs, but we've got our fingers crossed.