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Global TV Replacement Cycle Falls Below 7 Years as Households Continue to Replace Older CRT TVs and Upgrade to Larger Flat Panel Sets

Latest TV Replacement Study From NPD DisplaySearch Indicates Consumers in Emerging Regions Desire New Features and Latest Technologies (May 29, 2012)

SANTA CLARA, CA -- (Marketwire) -- 05/29/12 -- Findings from the annual update to the NPD DisplaySearch Global TV Replacement Study indicate that, over the past year, the TV replacement cycle decreased on a global scale, from 8.4 to 6.9 years. The study found a variety of reasons for this trend, including declining prices, a wider variety of sizes, and desire for the latest technologies.

The study analyzed the purchase intent of consumers across 14 different markets. The results indicate that in the next year, 31% of households are planning to replace an existing TV, while 22% are planning to add a new TV.

"The rate of TV replacement varies, but on a global basis, the majority of households are still replacing CRT TVs with flat panel TVs. We are also observing mature markets, such as the US, the UK, and others, replacing their first-generation flat panel TVs," noted Riddhi Patel, NPD DisplaySearch Research Director, Consumer Insights. "Overall, LCD TVs in the range of 32-44" are the most popular for planned purchases."

The most critical driver of TV replacement in nearly all countries is a desire to trade up in size, followed by wanting to own a flat panel TV with improved picture quality. Although price was not among the top 3 reasons for recent replacements, the study indicates that it does have a significant impact on the purchasing decision. Thus, pricing can be a key driver in increasing flat panel TV penetration (by replacing CRTs) and shortening the replacement cycle (by replacing older flat panel sets).

As TV prices fall and profit margins are compressed across the supply chain, the push to introduce new premium features has taken on increased importance. The hope is that these new features, such as 3D and internet connectivity, will drive consumers to replace TVs faster. However, the results from the NPD DisplaySearch Global TV Replacement Study suggest otherwise, as these new features were reported to be only somewhat important in selecting a new TV, and not a strong motivator to upgrade.

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