South Korean firm LG showed off its newest, thinnest-ever TV panel at a press event in South Korea Tuesday, according to multiple news reports.

The 55-inch display is as thin as a DVD and weighs less than a 13-inch MacBook Pro, which is 4.5 pounds, or 2 kilograms. It can be hung on a wall using a special magnetic mat.

The TV shows the potential of OLED, the technology that makes it possible to make high definition displays flexible, thin and lightweight.

At the press event, the head of LG Display's OLED group told reporters the company would increase its OLED production this year.

OLED displays are made from sheets of organic (carbon-based) materials which emit their own light. As a result, manufacturers can eliminate the layer of fluorescent backlighting found in traditional displays, such as LCD screens.

LG and Samsung sell several OLED TV models. However, they cost thousands of dollars, and aren't nearly as thin. According to the US Department of Energy, it might take another five years for the prices to come down in order for larger OLED displays to be commercially viable.

The real benefit of OLED technology will be appreciated mostly within wearables, digital cameras, smartwatches, tablets and mobile devices. It offers more saturated colors, higher contrast and greater brightness than LCD displays.