LG Display has big plans for OLED TVs in 2020 – but LCD is increasingly getting left behind.

The Korean electronics manufacturer reported lower-than-expected losses for the previous financial year (via Reuters), and it's due in a big part to increasing revenues from OLED TVs, which could have big repercussions to the LG TVs available for you to buy.

In fact, LG is so confident in its forecasts for OLED TVs that its shutting down domestic production of LCD panels. While LCD sets will likely still get churned out in some factories abroad, we're going to be seeing a lot less of them – all the more notable for the incoming jump in OLED production LG is planning for the coming months.

But what does this mean for the LG TV range? We've reached out to LG to gauge more about their plans going forward, but it's likely that, as OLEDs slowly drop in price – helped in no small part by ramped-up production numbers, as well as a new 48-inch panel size – they'll simply replace the mid-range LCD TVs currently in LG's TV lineup.

The promise of OLED

OLED panels have promised incredible contrast ratios, deep blacks, and exceptional brightness control – and delivered on those promises. While OLED sets aren't for everyone – they're quite dim compared to LCD TVs – they're still bulldozing the premium end of the TV market, and look set to encroach further into mid-range sets in the coming year.

The biggest obstacle for OLED shoppers has been the technology's high price, and with that set to change, we could soon see OLED become the go-to panel technology for sets costing $700 / £700 / AU$1,000 and above, rather than their current minimum pricing which is around double that amount.

We likely won't see the fruits of this before 2021, but it's clear that exciting things are afoot.