4K sales growth is looking strong over the holidays
by Stephan Jukic – November 5, 2014
So far in 2014, 4K TV sales in the U.S.A have passed the $668 million dollar mark and this represents a growth increase of 9-fold over 2013. However, the increases don’t stop there and purchases of UHD 4K TV sets during the holidays in this last phase of 2014 are expected to grow even further.
At least this is what the latest research findings from industry analysis firm NPD Group, Inc. indicate.
According to Stephen Baker, a researcher for the firm, “This has been a year of increased awareness and an evolution in pricing for 4K UHD TVs.”
Baker furthermore explained that while 4k TV sales were still very low during the 2013 holiday season, their consistent growth over 2014 will almost certainly lead to much larger purchase increases during this year’s Christmas holidays.
The 9-fold increase in 4K TV sales over the course of 2014 has come despite the fact that average sales prices for the TVs throughout the year have hovered around the $2,400 mark. This is well above the average selling price of $450 for an ordinary flat panel TV and more than twice the price of the latest Full HD LED LCD TVs.
Even the $2,400 price tags for 2014’s UHD TVs is considerably lower than average retail prices for the technology in 2013 and 2012, but only during the last couple of months have still cheaper higher end models begun emerging, as part of a wider and continuing trends towards steadily dropping 4K television prices.
The overall increases in sales are in large part a strong testament to consumer demand for the much higher quality and image clarity that these TVs are delivering to consumers. Just like Full HD when it first emerged, Ultra HD is piquing the interest of buyers who are hungry for the best possible resolution in their home entertainment systems.
More than 70% of all TVs sold so far in the U.S in 2014 have been within the 55” to 65” size range, which is slightly larger than the 50” inch average that makes up the majority of global 4K sales.
The interesting thing is that UHD TV, despite its still low overall market penetration, is actually driving forward growth of sales in larger TV screens overall.
Currently, all major manufacturers of 4K TVs, which includes companies like Samsung, LG, Sony and Panasonic, are steadily reducing their prices for newer model sets. However, the current leader in terms of pricing for quality technology is Vizio, whose recently released P-Series TVs have been retailing for well below $2,500, even for the company’s 752 inch model 4K TV.
The expected spike in Christmas holiday sales in 2014 is also reinforced by findings from a recent study by the Consumer Electronics Association, which found that 8% of U.S adults claimed their ideal Christmas gift to be a TV.
Story by 4k.com