People want flat screen TV

Consumers in the region are willing to splurge on TVs.Consumers in the region are willing to splurge on TVs.

The constant evolution and innovation in the world of TV technology have been successfully fueling consumer demand and driving consistent growth in the industry over the last few years. In the Southeast Asia region, flat panel TVs have continued to register a surge in demand in 2012, selling over 8.3 million units in the first eleven months of the year and reflecting a 26-percent volume growth over the same period the previous year.

LCD is the most sought after TV type across the region, making up more than nine out of ten sets purchased by Southeast Asian consumers. Four of the six markets tracked by GfK – Malaysia, Vietnam, Thailand and Indonesia registered 10- to 70-percent spike in sales quantity of LCD TV in the respective countries.

“The total LCD TV market across the region increased by 13 percent over last year, spurred largely by the strong demand of LED TVs which contributed to a significant chunk of the LCD TV pie,” said Gerard Tan, Account Director for Digital Technology, GfK Asia. “The developing countries are getting more exposed to the advantages of this newer TV technology and its consumers are increasingly demanding for it.”

Indonesia is the largest and also fastest growing market, thanks to the population’s ongoing high rate of conversion from the traditional CRT TV. Nearly 2.9 million sets of LCD TVs were sold in January to November 2012; 68 percent more than a year ago. While in the Singapore market on the other hand, 77-percent of all flat panel TVs sold were LED TVs with the rest being Plasma TVs.

According to findings, Internet-content and 3D TVs are progressively gaining grounds with all the six markets reflecting sales growth. While one in every ten (11-percent) sets of TV sold in the region last year had the Internet content feature, 3D TVs formed around 7-percent of all flat screen TV sales.

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