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August 22, 2009

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LCD TV market set to rank as biggest

CHINA will surpass North America to become the world's biggest LCD TV market by 2011, thanks to policies to boost consumption and a subsidy scheme to promote home appliance purchases in rural areas, research firms said yesterday.

The sales of liquid crystal display TVs in China are expected to reach 22.6 million units in 2009 and 30.2 million units next year. In 2011, the figure will reach 36.9 million units, according to South Korean-based research firm DisplayBank.

DisplayBank, however, didn't provide detailed LCD TV sales figures in North America.

"China has become the engine to fuel global LCD TV sales because people continue to replace the traditional CRT (cathode ray tube) TVs with up-to-date LCD TVs," said DisplaySearch, a United States-based research firm.

Consumers in the US curbed spending on TVs during the global financial crisis, industry insiders said.

China launched the "Home Appliance to the Rural Areas" policy to encourage the purchase of LCD TVs in a bid to stimulate domestic consumption.

The government provides a subsidy of 13 percent on selected home appliances sold to rural residents.

The subsidy could be used to buy computers, air-conditioners, water heaters, TVs, refrigerators and washing machines as well as motorcycles and mobile phones.

Home-grown companies, including Shenzhen-based Skyworth and Huizhou-based TCL, dominate the domestic LCD market, according to DisplaySearch.

By the end of the second quarter, Skyworth had a 20 percent market share, Qingdao-based Hisense 19 percent and TCL 15 percent, according to DisplaySearch.


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