Portland, OR–According to a new review by Quixel Research and Home Theater Research Group (HTRG), advanced TVs surpassed the $4.3B mark in 2003.
The advanced TV category includes products from flat screen TVs based on LCD or plasma technologies, to rear projection TVs designed around microdisplays and front projectors.
“Despite the slow economy in 2003, consumers purchased over three times the number of advanced TVs than in the previous year,” stated Quixel/HTRG principal, Tamaryn Pratt. “We have witnessed phenomenal growth in every product category, proving that each has its suitable space in the home,” she said. The newly published USA Advanced TV Market Review finds that almost half the revenues (48 percent) came from plasma TVs, while LCD TVs and microdisplay rear-projection TVs garnered each about 22 percent of revenues. Front projectors accounted for 7 percent of revenues.
“We have experienced tremendous expansion across all our advanced TV product offerings, particularly our Grand WEGA microdisplay and flat-panel plasma and LCD TVs,” stated Sony Electronics’ Home Products senior VP, Tim Baxter. “Seeing is believing…spectacular high definition images coupled with larger screen sizes in new, sleek designs have caught on with consumers.”
The review found that in excess of 1.5B units sold in 2003, with LCD TVs reaping more than half the market.
For more information, visit www.htrgroup.com.