Sales of LCD TVs will surpass that of traditional TVs next year for the first time, fueled by the Beijing Olympic Games in August and cheaper prices, a US-based research firm said in its latest findings.
The price of a 32-inch LCD TV, the mainstream-size model in China, will drop to below 5,000 yuan (US$709) this year, 16 percent lower than a year ago, according to DisplaySearch.
In China, LCD TV sales hit 8.8 million units last year, a growth of 83 percent over the year before. Traditional CRT (cathode ray tube) TV sales were 24 million in 2007 compared with 30 million the previous year, according to DisplaySearch.
Sales of LCD TVs are expected to hit 18 million units this year, while 24 million older TVs are likely to be sold. Next year, sales of LCD TVs are forecast to reach about 20 million, while sales of CRT TVs will decrease, according to Zhang Bing, an analyst at DisplaySearch.
"Through aggressive strategy in China, Samsung and Sony have gained market share. Hisense ranked as top among domestic brands," Zhang said.
The price gap between foreign-brand and domestic LCD models has narrowed to 20 percent from 30 percent, industry insiders said.
LG Display, which launched a LCD TV with a video-recording function and received a warm market response in China, expects its domestic revenue to grow 30 percent in 2008, said Jeffrey Kim, vice general manager and sales director of the company.
LCD TVs give wider screens, more vivid colors and more fashionable designs.
(Shanghai Daily March 25, 2008)