LG has unveiled an ambitious longterm plan for OLED production that will have models of more than 40 inches available by 2012. By 2016, they'll even cost less than conventional LCD sets.

OLED, as you probably know by now, stands for organic light emitting diode. It is potentially the wave of the future in flat-panel TV, producing a picture with better black level than existing LCD technology.

At a Japanese trade show, LG revealed plans to hit the market with a 15-inch, 1366 x 768 model by the end of 2009. Models of 20 inches and up will arrive in 2010, 30-inch-plus models in 2011, and 40-inch-plus models in 2012.

The larger sets wil initially be costly, so the next phase will concentrate on lowering the price. LG thinks it can produce OLED models of 40 inches and up for less than the cost of conventional LCDs.

See This Week In Consumer Electronics. Pic courtesy of our sister site, UltimateAV.