LG joins the rest of the world, accepts that people don’t want 8K TVs

Throughout the 2010s, technology firms invested heavily in the idea of 8K televisions, believing consumers would eventually desire ultra-high-definition displays. The journey began in 2012 when Sharp showcased the first 8K TV prototype at CES in Las Vegas. By 2015, Japan saw the introduction of the first commercial 8K TVs, priced at an astonishing 16 million yen, which translates to around $133,034 today. Samsung followed in 2018, launching its first 8K models in the U.S. at a more approachable price of $3,500. As the industry pushed for this new standard, organizations like the Video Electronics Standards Association (VESA) established specifications to support 8K technology, with Display Port 1.4 released in 2016 and HDMI 2.1 soon after. Dell also joined the fray, releasing an 8K computer monitor in 2017. The following year, LG made headlines with the release of the first 8K OLED TV, marketing it as the 'future' of home entertainment. However, the anticipated need for 8K displays has not materialized. Recent reports indicate that LG Display will cease production of both 8K LCD and OLED panels. A representative from LG Display shared that the company is reassessing current market dynamics and the 8K content landscape. They emphasized their readiness to respond should the market conditions shift favorably in the future. Notably, LG Electronics was a pioneer in 8K OLED TVs, debuting the 88-inch Z9 in 2019 and later reducing the entry price to $13,000 for a 76.7-inch model in 2022. However, sources reveal that LG Electronics will not replenish stock for its last 8K LCD model, the 2024 QNED99T. This move aligns with a broader trend, as other manufacturers like TCL and Sony have also retracted from the 8K market. TCL, which last released an 8K TV in 2021, cited lack of demand as the reason for halting production, while Sony discontinued its last 8K offerings in April and is unlikely to re-enter the segment due to plans to sell its majority stake in Bravia TVs to TCL.