LG bets on pricey OLED technology as future of TVs

LG Electronics Inc. is sticking with its strategy of using the exceptionally expensive OLED display technology for TVs, announcing two new giant models with ultra-high definition screens.

LG Electronics Inc. is sticking with its strategy of using the exceptionally expensive OLED display technology for TVs, announcing two new giant models with ultra-high definition screens.

The South Korean company said Monday it will ship a 65-inch OLED TV starting September. A 77-inch model will hit shelves later this year.

Major TV makers are pushing to make ultra HD TVs, also known as 4K, mainstream. They pack four times more pixels than regular HD televisions.

But making ultra HD quality TVs with OLED screens remain costly. LG's 65-inch model will cost 12 million won ($11,765). Other types of ultra HD televisions sell for less than $3,000.

LG said it is committed to OLED because the cost will come down and its advanced screen will eventually replace LCD screens.