SEOUL (Reuters) - With the economic downturn set to continue into 2009, worldwide revenues for liquid crystal display (LCD) TVs are expected to fall for the first time since the category was launched, market research firm DisplaySearch said.
In a report dated Dec 17, DisplaySearch forecast LCD television revenues would fall 16 percent year-on-year to $64 billion in 2009, with total TV revenues expected to decline 18 percent to $88 billion.
“DisplaySearch expects that 2009 will be the most difficult year yet for the TV industry and supply chain,” the research firm said. The LCD TV market is expected to reach 102.2 million units in 2008, a 29 percent year-on-year growth, but the figure represents a reduction of 3.6 million from a previous forecast.
For 2009, DisplaySearch predicts the LCD TV market will grow 17 percent to 119.9 million units, 11.5 million units less than previously forecast.
As for plasma display (PDP) televisions, a competing technology, DisplaySearch predicted growth of 24 percent year-on-year to 13.9 million units in 2008. The segment is expected to grow by 5 percent in 2009 to 14.6 million units, lower than a previous forecast, primarily due to the rapid decline in prices of 32-inch LCD TVs.
Reporting by Marie-France Han; editing by Jonathan Hopfner