A large portion of Americans are now perfectly happy with their (relatively) thin HDTVs. Consumers in the U.S. even skipped 3D TV for the most part, quickly identifying it as the fad that it was.
Market research firm IHS this week released a new report showing that U.S. TV shipments during 2013 fell to just 34 million, down from 37.5 million the year before. That represents a significant 9% year-over-year drop for the U.S. TV set market and the first time in five years that the number of yearly shipped TVs had been this low.
The reason for this decline isn't hard to figure out. U.S. consumers are perfectly happy with their current displays and seen no need for an upgrade. Manufacturers may find sales in ultra HD technology, which all TV brands were heavily promoting at this year's Consumer Electronics Show (CES). However, it could be a while before prices drop and enough 4K video content is created for consumers to justify a new TV purchase.
“The TV market in the United States has reached a point of saturation following a period of huge growth in years past, especially as the flat-panel-TV craze set in,” said Veronica Gonzalez-Thayer, analyst for TV systems at IHS. “As a result of the market’s maturity, and also because of lingering uncertainties in the economy, American consumers have been less eager to rush out and buy new replacement TV sets.”
The IHS report found that LCD TV set shipments dropped 6% last year, down to just 31.9 million. At the same time, Plasma displays appear to be dying off with only 2.1 million shipped in the U.S during 2013. This represents a huge 42% drop from the number of sets shipped just the year before.
Image via Samsung