The television market struggled through a second consecutive down quarter this year, new data from NPD DisplaySearch has revealed.
Panasonic had a rough second quarter globally.
The research firm reported today that total TV shipments worldwide hit 51.6 million, down 8 per cent compared to the same period last year. LCDs once again dominated the space, with 85.5 per cent market share and 44.1 million shipments. Cathode ray tube (CRT) televisions came in second place, with 8.4 per cent share and 4.3 million shipments. Plasmas could only muster the third-place spot, with 6.1 per cent share and 3.2 million shipments.
So, what's happening? NPD DisplaySearch said that a host of factors underlie the decline, including "worsening economic conditions worldwide and slower price erosion, which both affect consumer demand." In other words, economic conditions are prompting consumers to think twice about buying televisions, and prices are still too high for their liking.
The television market has been experiencing some real difficulties lately. During the first quarter of the year, for example, LCD shipments hit 43.1 million units, representing a 3 per cent decline compared to the same period in 2011. More notably, LCD shipments were down year over year for the first time ever.
It was a similarly troubling second quarter for LCDs, which saw unit shipments decline by 2 per cent year over year.
Despite all of that bad news, there were some silver linings. According to NPD DisplaySearch, so-called "advanced features", such as LED backlighting, higher frame rates and 3D, proved popular during the quarter.
Samsung was also pleased with its second quarter. The company's shipments rose 18 per cent year over year, helping it to secure 28.5 per cent market share. The second-place vendor, LG, nabbed 14.6 per cent of the market as shipments remained static. Sony and Panasonic took the third and fourth spots, respectively, but both companies saw their shipments drop by one third compared to last year.