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February 23, 2010

LG puts weight behind LCD sales targets

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by Rapid TV News

Website: Rapid TV News

Electronics company LG says that global demand for LCD display panels will grow this year, as the world increasingly moves towards flat-panel TV sets.

“We estimate that LCD TV demand worldwide will be 20 million more [units] this year compared to the previous year,” said Kyuchan Her, LG’s LCD TV Asia Group Regional Business leader, at an event in South Korea.

In 2009, Her said that despite the economic slowdown the demand for LCD TV was beyond analyst’s expectations reaching up to 145m units globally. The unexpected need for LCD TV electronic parts almost caught everyone off guard as suppliers struggled to keep up with consumer appetite for flat panel TVs, the LG executive added.

“There is still a market for CRT television; India is currently the biggest market for this old technology,” said Her. “But of course, we see a rapid decline in the coming years and we expect in two to three years many South and South-east Asian countries, including the Philippines, will be using LCD televisions at home.

LG executives also added that they experienced a 30% downshift in CRT TVs while their LCD TV market jumped 55%. At CES 2010 in Las Vegas in January, LG presented the company’s latest LCD TV technology by introducing the world’s thinnest LED-backlit LCD TV measuring only 6.9 mm.

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