The television market struggled through a second consecutive down quarter this year, new data from NPD DisplaySearch has revealed.
The research firm reported today that total TV shipments worldwide hit 51.6 million, down eight percent compared to the same period last year. LCDs once again dominated the space with 85.5 percent market share and 44.1 million shipments. Cathode ray tube (CRT) televisions came in second place with 8.4 percent share and 4.3 million shipments. Plasmas could only muster the third-place spot with 6.1 percent share and 3.2 million shipments.
So, what's happening? NPD DisplaySearch says a host of factors underlie the decline, including "worsening economic conditions worldwide and slower price erosion, which both affect consumer demand." In other words, economic conditions are prompting consumers to think twice about buying televisions, and prices are still too high for their liking.
The television market has been experiencing some real difficulties lately. During the first quarter of the year, for example, LCD shipments hit 43.1 million units, representing a 3 percent decline compared to the same period in 2011. More notably, LCD shipments were down year-over-year for the first time ever.
It was a similarly troubling second quarter for LCDs, which saw unit shipments decline by 2 percent year-over-year.
Despite all of that bad news, there were some silver linings. According to NPD DisplaySearch, so-called "advanced features" such as LED-backlighting, higher frame rates, and 3D proved popular during the quarter.
Samsung was also pleased with its second quarter. The company's shipments rose 18 percent year over year, helping it secure 28.5 percent market share. The second-place vendor, LG, nabbed 14.6 percent of the market as shipments remained static. Sony and Panasonic took the third and fourth spots, respectively, but both companies saw their shipments drop by a third compared to last year.