Flat Panel Decline in 2009
You would have thought that sales of flat panel TV would be booming right now. We're 61 days away from the digital conversion. Instead of buying converter boxes, most pundits thought everyone would be rushing out to buy new digital TVs this year.
Another misconception: as more folks stay home to save money, they would buy new TVs to make the experience more enjoyable.
Wrong on both counts. Yet another new report from DisplaySearch is showing the first sales drop in flat panel TVs in a decade, and the first decline in revenue in the past eight years.
Even worse . . .
Sales of plasma and LCD are expected to decline more in 2009. Taiwanese manufacturers are cutting production, down to about 80 percent, and Korean companies are doing the same. LG just announced that they're completely eliminating production of 32-inch displays.
Scary times all around. What are you doing to cut back in these tough times? —Leslie Shapiro