LG launches 55-inch OLED television

South Korea's LG Corp. has launched a television with a display technology it says is more energy efficient than LCD or plasma-based alternatives. The 55-inch television being launched in the South Korean market features OLED, or organic light-emitting diode, technology that can display darker and deeper blacks and can be made thinner than competing display technologies. Both LG and Samsung announced plans for 55-inch OLED televisions last year, but LG is the first to offer a device to the public, the BBC reported Wednesday. The 1080p OLED television will sell for $10,300, and analysts said prices on the technology were not likely to drop to more affordable levels until 2015. Smaller OLED screens are already being offered in smaller sizes for smartphones and tablets but cost and reliability concerns have held back the manufacture of larger OLED screens. Despite the problems with bigger screen sizes and the high prices, global sales of OLED televisions are expected to reach 1.7 million by 2014, research firm DisplaySearch said.