Cutting-edge semiconductor display technologies, including organic light-emitting diodes (OLED) and mini light-emitting diodes (mini LED), are injecting new impetus into the sluggish global television market and bolstering the transformation and upgrading of the traditional home appliance industry, industry insiders said.

The new technologies could be applied into a wide range of segments, including smartphones, TVs, tablets, wearable devices and vehicle-mounted display screens, they said.

Chinese television manufacturer Skyworth Group recently announced it will invest 6.5 billion yuan ($1 billion) to establish a mini LED display technology industrial park in Wuhan, the capital of Hubei province. It will support mini LED chip manufacturing, backlight packaging and modules, and conduct research and development, production and sales of ultra high-definition display terminals.

Wang Zhiguo, chairman of Shenzhen Skyworth-RGB Electronic Co Ltd, a subsidiary of Skyworth Group, said the company"s TV business saw considerable growth in the first half, with sales revenue in the domestic and overseas markets rising by 13.7 percent and 68.4 percent on a yearly basis, respectively.

Skyworth always focuses on the high-end market and continues to promote technological breakthroughs in the TV industry with its self-developed technologies, said Wang, adding sales of its OLED TVs topped the list, accounting for 41.6 of the domestic OLED TV market.

In addition, the Shenzhen, Guangdong province-based company unveiled a series of new OLED and mini LED TV products in September, bringing a new level of high color accuracy and a slimmer and sleeker look for consumers.