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LCD TV Shipment Growth Falls to Record Low in 2Q
Aug 25, 2011
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Global TV shipment growth turned negative in the second quarter of 2011, declining 1% year-on-year and falling more than 6% year-on-year in developed regions, which more than offset 3% growth in emerging markets, according to a DisplaySearch report. Softer price declines and inventory pressure at retail due to lackluster consumer demand continue to put pressure on TV brands.

TV shipments had been soft in the first quarter of 2011 as the worldwide TV supply chain digested excess inventory, but growth was still up 1% Y/Y.

“Q2’10 was a very strong shipment growth period due to greater price erosion and more confident consumers, so the comparison of this year’s shipments to a year ago is tough, especially considering the surge of shipments in early 2010 due to anticipated demand related to the World Cup Soccer tournament.” noted Hisakazu Torii, vice president of TV Research at DisplaySearch. “Due to weakening macro-economic conditions, similar to what happened during the global financial crisis of 2008-2009, the TV industry is becoming somewhat pessimistic and reducing inventory, especially in North America and Western Europe.”

LCD TV shipments worldwide grew at least 20% each quarter in 2010, but so far have only risen 9% Y/Y in Q1’11 and 6% Y/Y in Q2’11. The slowing growth impacted both developed and emerging markets, with LCD TV units falling 5% and rising 19% respectively, both well below the rate of growth a year earlier.

The main inhibitor to faster LCD TV price erosion, something that has a strong positive impact on consumer demand in the highly elastic TV market, has been the transition from CCFL (cathode ray) to LED and slower component pricing declines. LED share increased from 18% of LCD TV shipments in Q2’10 to more than 43% in Q2’11, but still carries a 74% average premium across all sizes, though this is down from a 120%+ premium a year ago. The research firm said LED backlight cost breakthroughs have been slow to materialize.

The firm reported plasma TV shipments showed surging growth in 2010, increasing 30% Y/Y after negative growth in 2009. The boost in growth had a lot to do with market pricing advantages against LCD for similar sizes and consumers who continued to focus on price. LCD TV prices started to narrow the gap this year, and the premium for a 42-in class CCFL LCD narrowed from 13% in Q2’10 to less than 1% in Q2’11 over plasma, which is having an impact. Plasma TV shipments fell 6% in Q2’11 after double digit growth throughout 2010.

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