TV makers worldwide saw their revenues slide 12 percent in the last year, according to a report set to be released Tuesday by DisplaySearch.
A total of 43.3 million TVs were sold worldwide in the first quarter of this year, a 6 percent drop compared to the same quarter a year ago, and prices dropped 6 percent, too, according to the Quarterly Global TV Shipment and Forecast Report.
Even Samsung, which collects more money in its coffers for TVs than any company in the world for the past 13 straight quarters, saw its revenues drop 8 percent since the same time last year. But it still held its lead in the industry, maintaining a 21.5 percent share of dollars spent on TVs worldwide.
The biggest shake-up in the last quarter came from LG Electronics which, at 2 percent growth from a year ago, was the only one of the top five manufacturers to see an uptick in revenues. It was able to leapfrog Sony into second place, claiming 13.3 percent of the TV market. Sony garnered 13.1 percent, followed by Sharp with 7.2 percent, and Panasonic with 6.1 percent.
Panasonic appeared to have the most trouble in the most recent quarter. It saw revenues from TV sales drop 22 percent over the last year.
These kinds of slumping progress reports from all sectors of the technology industry have become practically commonplace. Declining revenues are particularly a problem in consumer electronics as shoppers are finding themselves with less discretionary income.