In comparison, the flat TVs market has posted a negative growth of -0.1% during the period. However during the corresponding period last year, flat TVs grew by 25%. Overall the CTVs market has witnessed 1.2% growth during the January to April 2009 period.
Currently, LCD TVs and Plasma TVs market contribute 1.8% to the overall CTVs market. With the ongoing Twenty Twenty World Cup, branded consumer electronics manufacturers expect higher growth of LCD and Plasma TVs compared to flat TV sets.
Durables majors, LG Electronics India has registered a 257% growth in LCD TVs and 353% in slim TVs. During January to April 2009 period, the company witnessed 42% growth in flat TVs, Amitabh Tiwari, head, consumer electronics, LG Electronics India told FE.
Competitor, Samsung India has witnessed 100% growth as far as flat panel TVs (LCD, LED and Plasma TVs) are concerned between January to April 2009, informed Ravinder Zutshi, deputy managing director, Samsung India.
According to Zutshi, The success of LCD and Plasma TV market growth can be attributed to many factors. They are, pick up in consumer sentiments and confidence following stable government, launching of new technological line-ups in LCDs, LEDs and Plasma TVs, IPL events, and manufacturers improving picture performance.
As for flat TVs, Samsung India has achieved 35% growth between January to April 2009. Samsung India is targeting sales of 6 lakh units of flat panels, which is, LCD and LED TVs and hopes to achieve 37% growth in flat TVs this year. In 2008, Samsung India sold over 3.2 million TVs, of which, 2.6 million were flat TVs. In FY10, competitor, Sony India hopes to grow by 20% to 25% with major focus on LCD TVs and digital imaging segments. As per ORG, during the first quarter of 2007, the LCD TVs and Plasma TVs market grew at the rate of 45.6%, as compared to the 9% growth reported during the corresponding period last year. Samsung India, a market leader in the LCD TVs segment, has witnessed 715% growth and has achieved 26% market share. In order to spur more volumes durable companies along with consumer finance companies have minimised the downpayment and increase the installment tenure for LCD and Plasma TVs. However, industry sources said that the limited shelf life of LCD and Plasma TVs can be a deterrant and only time will tell how successful durables majors will be in increasing penetration in the market.