Global LCD TV sales volume is expected to increase by 21 percent this year, faster than a previous forecast, helped by strong sales in developed markets and China's stimulus spending program, speeding up the transition to flat-screen TVs, DisplaySearch said.
In a report distributed on Friday, the research firm said liquid crystal display (LCD) TV sales were expected to reach 127 million units in 2009, higher than a previous projection of 120 million and compared with 105 million sold in 2008.
LCD TVs are expected to make up 63 percent of global TV shipments this year. However, LCD TV revenue is still projected to decline 6 percent from 2008 because of price erosion and a shift to discount retail channels such as Wal-Mart Stores Inc, DisplaySearch said.
It also raised the LCD TV sales outlook for China, to 23.6 million units from 18.8 million previously, citing the government's enhanced incentive program for TV purchases.
Leading suppliers of LCD TVs include South Korea's Samsung Electronics Co Ltd, Japan's Sony Corp and U.S. brand Vizio Inc.
Total TV shipments worldwide are still expected to decline 3 percent to 200.4 million units in 2009 as the global recession and rising unemployment take a toll.
Sales of plasma screen TVs -- LCD's trailing rival -- are expected to fall 2 percent this year to 14.1 million after surging 28 percent in 2008, DisplaySearch said.
(Reporting by Rhee So-eui; Editing by Chris Lewis)