[THE INVESTOR] LG Electronics said on Aug. 29 it will unveil its 88-inch 8K OLED TV at the upcoming tech exhibition in Germany, claiming the product will help the company expand its presence in the global premium TV market.

The company said it will introduce the new TV at the Internationale Funkausstellung Berlin which kicks off on Aug. 31.

The 8K indicates the screen has a resolution of 7,680×4,320 or some 33 million pixels overall. It vastly exceeds 4K, also referred to as Ultra HD, which boasts a resolution of 3,840×2,160 and around eight million pixels.

“LG Electronics began the mass production of OLED TVs in 2013. OLED products have been acknowledged as the best TVs on the back of their capabilities to deliver a complete black with outstanding contrast ratio,” the company said, claiming the 8K TV boasting a 33 megapixel resolution will help LG solidify its foothold in the OLED TV industry.

LG said while the size of the 8K TV market for this year is estimated at only 60,000 units, the segment is anticipated to expand to 5.3 million in 2022.

The company added that the size of the market for OLED TVs, estimated at 2.5 million units this year, will jump to 9.35 million units in 2022.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)