Samsung's highly anticipated Super OLED TV will launch in South Korea in the second half of 2012 and will be priced at a $9,000 equivalent, the Associated Press reported.

The ultra-thin 55-inch OLED display is set to compete with LG Electronics, the world's second-largest TV maker by sales, who will showcase its own 55-inch TV in Monaco this month.

After the TV hits South Korea, it is expected to roll out in Europe, followed by the U.S, but due to the high price tag, the TV is not expected to go mainstream for another three years.

OLED (organic light-emitting diode), which is used in Samsung's cell phone displays, is expected to eventually replace the LCD screens now used in most televisions. The OLED display is thinner and lighter than most conventional displays. The OLED TV has 20 percent better color reproductions than existing LCD HDTV's, according to Samsung.

The TV heralds Smart Interaction voice and gesture control as well as built-in Smart Dual View technology, which allows viewers to watch two different programs on the TV at the same time.

The company has also revealed 60- and 75-inch versions of its LCD models, which are also expected to launch later this year.

Meanwhile, the Wall Street journal has reported that flat-panel TV shipments have declined in the U.S in 2012. A study carried out by IHS iSuppli, however, find that sales for high-end TVs with features such as internet-connections are on the rise.