GfK, a market reserach firm revealed these interesting stats about current and upcoming trends for the TV industry:
- estimated growth of global LCD TV shipments is expected to fall from 12% recorded in 2011 to 7% in 2012, totaling 225 million units according to the market research firm GfK.
- Growth momentum for 2012 is to come from emerging markets as demand from mature markets including the US and Europe will subside
Sales of LCD TVs in the China market are expected to top 46 million units in 2012, with Korea- and China-based branded TV vendors strong contenders in the market, according to industry sources.
One company that should be paying very close attention to this trend is Samsung Electronics (one of the leading brands in China) which recently reacted to this prediction by saying they vowe to ship over 50 million LCD TVs globally in 2012.
But, Domestic brands in China, like TCL, Skyworth, Hisense, Konka and Changhong, have been expanding their market share at an alarming rate, with TCL alone shipping over 10 million TVs in 2011, the sources noted.
TV manufactuing companies are apart of a very competitve industry and your sucess is highly based on brand image and consumer preference. Consumers are very opinonated and require a lot of third party reviews when choosing a TV brand to purchase which only adds to the competitiveness of the industry.
There are many different characteristics that you may desire when choosing a TV brand to purchase. One consumer may prefer a LCD TV from Sony because they produce a higher quality LCD TV then Panasonic, while another consumer may prefer Panasonic becuase they offer a better plasma TV. There are so many different technologies and types of TVs that can be produced that it creates a need for many different companies producing generally the same product. Consumers can choose a TV that specefically satisfies their individual wants and desires from a TV manufacture if they have many options to choose from. If TV manufactures explore ways to expose each of their advantages over another it will create a need for more brand options to choose from in each country from consumer interest.