The company has officially revealed that the device will be launching sometime during the second part of 2012. LG has spent years developing and researching the technology, and have managed to couple it with their 4-Color Pixel and Color Refiner Technology, which results in what LG are promising the most natural looking image on any TV according to T3.

The screen quality will obviously impress, but it’s the displays overall dimensions that will impress you even more as it is only 4mm thick. Making it slimmer than your average smartphone let alone rival TV technology. It is even slimmer than the Samsung Galaxy S2 and the iPhone 4S.

LG must have spent big as it’s looked to embrace the technology, and according to LG Electronics CEO Havis Kwon, the technology “is clearly the future of home TV entertainment”. Kwon added that LG are looking at making it easier for customers “to embrace”.

One of the main advantages the technology has over LCD is the speed, with the OLED having a response time of over 1,000 times quicker. This is coupled with the much slimmer design that would certainly appeal to many consumers. Unfortunately there is still no word on pricing, which could be a big stumbling block for the technology when it first releases.

LG are not the only company looking to OLED TVs though as the likes of Panasonic and Samsung are also set to offer sets. As more options become available it should eventually bring the price the down for consumers. Are you interested in OLED TVs? How much would you pay for one?

OLED technology has been around for some time now, but so far it hasn’t been commercially available in larger screen sizes and at an affordable rate. LG is looking to change this with the release of the biggest TV of its kind so far, and according to 9To5 Mac it will be unveiled later this month at the CES event.

Currently Plasma TVs offer the deepest blacks available but OLED technology could actually better those found on Plasma screens. There has been reports last year that Apple themselves could offer its own OLED TVs, which would be manufactured by LG.

LGs new model promises to have a 4mm bezel, which is half of the iPhone 4, and weighs in at only 16.5 pounds for a screen size of 55-inches. It also promises to be 1,000 times faster than LED/LCD displays and have an infinite contrast ratio.

So far no information has been revealed about pricing or availability but this should change at the CES show later this month. The new display does use a cheaper manufacturing process according to LG that is based on Oxide TFT technology, but still don’t expect prices to be comparable with the likes of today’s other flat screen technologies.

As other companies such as Sony and Samsung who also manufacturer OLED displays start to invest more in the technology, we may see more larger screen OLED’s become available and at a lower price. OLED has long been promised as the next big thing in the flat screen TV market, and has so far failed to deliver.

Do you think larger OLED TVs will catch on?

As reported from Pocket-Lint, the LG 15EL9500 is certainly an eye-catcher, with amazing dimensions such as only 3mm in thickness, whilst still being fully HD compatible.

It looks as if technology is moving on fast, as OLED is swiftly replacing the likes of LCD and Plasma TV sets. If you want to get your hands on one though, it will not be cheap. Expected price for this 15-inch model will be around £1800, so get saving.

Let us know what you think of their new OLED set. Will you be buying one?