Mar 3 2010
Himfr.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, analyzes China's 2010 LCD TV market.
With China's economic recovery, demand for LCD TVs has surged
In 2009, in the global financial crisis, China's GDP growth rate was expected to remain above 8%. It can be said that China has entered 2010 on a positive upward trend economically. At the 2010 Central Economic Work Conference, it was evident that economic development, maintaining stability and promoting growth in domestic demand are still key points of focus in 2010. The government's efforts to stabilize the market and promote economic development in 2010 have laid the foundation for overall economic growth. This has promoted heightened demand in the Chinese domestic consumer market, so consumer demand for LCD TVs continues to rise rapidly.
Himfr analyzes that the current domestic demand for color TVs is peaking. By the end of 2009, sales of China's flat-panel TVs had only amounted to 13.8 million units. Therefore, the LCD TV is well-positioned to replace the traditional CRT TV, and has huge market prospects.
In 2009, the full-year sales for LCD TVs amounted to 24.7 million sets with a year-on-year the growth rate increase of 102% from 2008, surpassing the sales of CRT TVs. CRT TVs' retail volume in 2009 was only 50% of 2008. The sales of plasma TVs were only 1.21 million units. In the future, LCD TVs will still maintain a relatively high growth rate, while the market volumes of CRT TVs and Plasma TV will continue to decline in retail sales. It is expected that by 2011, LCD TV sales will exceed 40 million units, while the CRT TV sales volume will stay steady at three million units at a month, and plasma at only 80 million units.
LCD TV's flourishing development has brought changes in the color TV industry and fierce competition within the foreign brands. Chinese brands currently are active in this competition, but their development is still limited at the present moment.
The limited development of Chinese brands in terms of LCD TVs and the panel price fluctuation is an important factor holding Chinese color TV manufacturers back, but this situation may improve over the next one to three years.