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27 Nov 2008
Market watcher iSuppli has cut its forecast for 2008 and 2009 LCD-TV shipments but is still predicting growth of more than 20 per cent next year.
Having previously predicted LCD-TV shipments would hit 99 million this year, the analyst has lowered its forecast by almost six per cent to 93.4 million. The change is due to the impact the economic downturn is having on spending but the amended figure would still represent annual growth of 18.9 per cent.
iSuppli's forecast for 2009 shipments has also been trimmed by more than nine per cent from 124 million to 112.6 million. Despite the drop, this would still represent a 20.5 per cent increase on 2008 shipments. The analyst claimed sales in 2008's final quarter would be somewhat weaker than expected and this trend would continue through 2009.
Further reading
The market will then rebound significantly in 2010, iSuppli claimed, and the upturn would be attributable to a number of key factors. Firstly, a continued decline in price will help drive sales and secondly the market will benefit from new panel production capacity.
Thirdly, brand and retailer commitments to sell more LCD-TVs would give the market a shot in the arm. Finally, increased demand from consumers will ensure healthy sales in 2010.
Riddhi Patel, iSuppli's principal analyst for television systems, said: “The economic downturn in the United States and Europe has had a knock-on effect on global economies, spurring a slowdown in Gross Domestic Product growth, an increase in inflation and a deceleration in consumer spending around the world. The current crisis is impacting spending in all markets, including LCD-TVs.
"The continued impact of the recession and credit crunch in the United States and Europe and rising inflation in many emerging markets will slow down sales growth for LCD TVs in 2009 as well. But LCD-TV shipments will continue to rise due to strong consumer interest and declining Average Selling Prices for sets. Furthermore, iSuppli expects the major brands' marketing and promotional efforts will fuel demand.”
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