Revenues fell even more, down 12 percent Y/Y to $22.1 billion with ASPs falling 6 percent Y/Y as both retailers and brands sought to keep consumers shopping. The resulting shipments were very close to projections, but the mix was weighted more heavily towards LCD TVs than expected on strong demand in China as well as North America.
Globally, flat panel TV shares grew from 66 percent in Q4’08 to 68 percent in Q1’09 as LCD TV prices fell even more in Q1’09 on an annual basis than they did during the Q4’08 holiday season, an indication of the pressure to maintain consumer demand.
LCD TVs were the only technology to gain share during the quarter, rising from 58 percent to 62 percent, as Y/Y shipments grew 27 percent to 26.7M units, but revenues posted the first ever Y/Y decline on a worldwide basis, down 1 percent Y/Y, highlighting the pressure on prices.
Plasma TV unit shipments increased 1 percent Y/Y by comparison to 2.8M with revenues falling by 26 percent Y/Y, representing 6 percent of unit shipments and 11 percent of global TV revenues.
China remained the #1 region for TV shipments, increasing unit share from 19.1 percent to 21.3 percent, with strong growth in LCD TV shipments, posting the only sequential increase in LCD TV unit volume from Q4’08 to Q1’09 of any region, as the rural subsidy program gained momentum and helped to partially offset a sharp decline in demand for CRT TVs. North America was the dominant region for TV revenues, accounting for more than 27 percent of global dollars due to a greater mix of large size LCD and plasma TVs than other regions.
Given the pressure on consumer spending, it’s not surprising that demand remained strong for modest screen sizes, where pricing was more attractive. 32” was still the most popular screen size, accounting for almost 38% of unit shipments, but the share of total TV shipments above 40” declined about half a percent from record levels in Q4’08. The unit share of higher resolution 1080p models increased by more than a point to a record 21.7%.
A review of global TV shipment performance by technology can be seen in Table 1.
Table 1: Q1‘09 Worldwide TV Shipments by Technology (000s)
Source: DisplaySearch Quarterly Global TV Shipment and Forecast ReportOn a brand basis, Samsung remained the global brand share leader in revenues for the thirteenth straight quarter, holding their revenue share around 22 percent, and also leading in global TV unit share. LGE overtook Sony for the #2 share position in global TV revenues, rising almost 2 points to 13.3 percent and posting the only Y/Y revenue growth among the top five brands with a 14 percent Y/Y growth in unit volume.
Sony fell to #3 on a revenue basis as a result, with Sharp and Panasonic rounding out the top five. It’s interesting to note that in LCD TV on a revenue basis, Philips fell out of the top five for the first time, replaced by Toshiba who was #2 in Japan and #5 in North America and Western Europe.
A complete review of the top five brands can be seen in Table 2.
Table 2: Q1‘09 Worldwide TV Brand Rankings by Revenue Share
Source: DisplaySearch Quarterly Global TV Shipment and Forecast Report
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