Sales of high-end TVs post substantial growth

With the advancement of technology these days, consumer appliances are also starting to develop into better, enhanced and high-end features making the products more marketable.

And one such product is the television which has evolved through time to fit the requirements of its consumers.

Because of these innovations, manufacturers drive their sales higher because more segments of the market are starting to gain appreciation of these products as form of convenience and to augment their lifestyle.

In an interview with Asian Home Appliance Center, Henry Chua noted that, “the market for high-end consumer electronic products have grown higher than years ago because consumers these days already demand to get better and improved features.”

In particular, Chua said that slim fit televisions are becoming marketable than regular sized TVs. Slim fit TVs are units that have picture tube that is 30% slimmer compared to regular-sized TVs.

He also discussed that LCD TVs, which are more high-end, slimmer, with better picture quality and features than slim fit TVs are also starting to gain increasing market demand.

However, despite the increase in the slim fit and LCD TV market, sales for regular TVs according to Chua is still doing good. He said that many segments of the market could not yet afford high end TVs so they purchase regular-sized TVs instead.

“The sales for regular TVs have dropped for a little bit but the sales volume is still high compared to LCD TVs which are more expensive and gains us higher revenue in terms of value,” said Chua.

But Chua is optimistic that in time, prices of high-end TVs will already be reasonable enough for the lower end markets to afford.

“The sales for LCD TVs have grown 100% since it started to come out in the market and because of its increasing demand, its price is continually dropping every quarter and it will get more affordable eventually,” said Chua.

The price for regular TVs in the market could go as low as P5, 000 while slim fit TVs so far could get as low as P 10, 000 depending upon the unit’s specifications, models and brand, whereas LCD TVs ranges from P40, 000 to 50, 000.

With the small price difference between regular and slim fit TV, Chua pointed out that many consumers are now starting to shift towards purchasing slim fit TVs instead. And with the dropping of LCD TV’s prices, its market is also projected to grow in the succeeding years.