LG Electronics Inc., South Korea's No. 2 tech giant, launched its latest Ultra HD TV lineup of different sizes and shapes at home Tuesday, taking a step forward to narrow its gap with global rivals.

The firm said it will release 16 UHD TV models this year, including those featured at the U.S. Consumer Electronics Show in January, which will also come in various sizes to meet different needs of customers.

The UHD TVs, sized between 49 to 105 inches, will also be available in curved screens, which industry watchers consider more suitable for human eyes while enabling a panorama view.

LG said its TVs' in-plane switching panels provides users with more vivid resolution and allows them to enjoy the same view regardless of angles.

The models' "cinema-3D" technology also changes typical 2D films into 3D, while allowing users to manipulate the "depth" of the conversion: the degree of the 3D effect. The company added it will also release smart TVs equipped with their own operating system "Web OS."

Data compiled by DisplaySearch earlier showed LG accounted for around 6.9 percent of the world's UHD TV market in the fourth quarter of 2013, which hovers far below the 14.9 percent posted by its home rival Samsung Electronics Co. Sony topped the list by accounting for 18.2 percent.

China's Skyworth Group Co. ranked third with 13.9 percent over the cited period, followed by Chang Hong with 11.4 percent and Hisense with 10.5 percent.

Global tech giants have been competing intensely in the UHD TV sector, one of the highly anticipated areas of the world's electronics industry this year. The country's top two tech giants each revealed their 105-inch models earlier this year, each claiming that their product is "the world's first." (Yonhap)