LG Electronics said on Monday it has increased TV production at its factory in Mexico by 30% when compared to a year ago to meet the higher demand it is anticipating for year-end sales across North America.
The South Korean electronics maker said demand in North America had been stagnant due to the COVID-19 pandemic but that this has steadily recovered, with local TV retailers now preparing for upcoming sales events such as Black Friday.
Demand for large-sized OLED TVs are surging in North America due to these trends, LG said.
The company's factory in Reynosa, located in the state of Tamaulipas, has been running two shifts, day and night, at full capacity since July, LG said.
All TVs produced at the factory are shipped to North America.
LG said it expected this high demand to continue throughout the fourth quarter.
Last month, the company began official sales of its highly touted rollable OLED TV, the LG Signature OLED R, which costs $87,000.
It is offering free power board replacements for around 60,000 OLED TVs in South Korea due to an overheating issue.
The company's increases in profit and revenue were backed by strong home electronics sales.
It comes after seven straight quarters of losses, thanks to increased demand arising from the pandemic.
LG Signature OLED R is now available in South Korea and will cost 100 million won, around $87,000.
The company's two-screen device offers a different proposition than the Galaxy Z Fold II and the Surface Duo but relies even more on developer support.