Approximately 700,000 LCD TVs were shipped during October, according to Indrajit Ghosh, Director for India and South Asia at DisplaySearch, representing a huge increase from recent years.
In 2008 745,000 LCD TV sets were sold over the entire year with the top four brands, Sony, Samsung, LG and Videocon, reaching figures over 100,000 during the month. Despite being absent from the market since March of this year Phillips was also able to total over 10,000 sales having re-entered the market in October.
“After a few more months like this, we will be able to say that the market has reached a tipping point. TV brands and panel makers will do well to pay attention to the Indian market, which is emerging as the most interesting emerging market in the world,” said Ghosh.
Other countries have also received boosts to their LCD industries. China recently announced that a number of 8th Generation LCD factories will be built by Korean LCD manufacturers Samsung and LG, while Taiwanese firm AU Optronics was also given the go ahead. Russia meanwhile has seen the LCD TV come close to totally obliterating CRT TV with increased sales.
LG, whose TV panels account for 58 percent of its shipments, did however see a decline in its third quarter profits this year due primarily to a reduction in panel prices caused by competition in the market.