Spending on consumer electronics in Asia reached US$11.5 billion during the first half of 2008, according to a report by GfK Asia.
Steven Kaiser, Commercial Director CE, GfK Asia, said, "Our data shows a strong and healthy consumer climate throughout Asia which, thus far, has been less affected by the economic woes in other parts of the world."
For televisions, the GfK Asia data indicates that, in general, consumers in Asia continued to favor LCD TVs over Plasma TVs during the first half of 2008. When China is excluded, total Asia LCD TV retail volume growth outpaced plasma TV growth figures. In China as well, LCD TVs dominated the television landscape. The data shows LCD TVs captured nearly 80% of China's television market, even though plasma TV retail volumes grew by 79% in the first half of the 2008 when compared to the same period last year.
The strongest growth in retail sales of LCD TV was seen in South East Asia, where volumes more than double year-on-year. Cambodia, Indonesia, and Vietnam had more than 250% retail volume growth for LCD TV in the first half of the year when compared to the first six months retail sales of 2007. Malaysia and Thailand registered first half LCD TV retail volume growth rates above 115%. In other parts of Asia, markets such as Hong Kong, Korea, Singapore, and Taiwan also reported first half double-digit growth rates in the retail sector for LCD TVs. Year on year, LCD TV retail volumes grew by more than 50% in Australia and New Zealand, and by 79% in the Philippines.
For camcorders, GfK Asia reported an increase in the full HD segment, with total retail volumes topping 150,000 units in the first half of the year, an increase of more than 400% when compared to figures from the same time frame in 2007. For total Asia, full HD retail sales value rose by almost 350% year on year, commanding a total market value of more than $190 million.
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