TV sales slump across Europe, Meko
Further evidence of the decline in consumer confidence was released by figures from analyst firm Meko today. According a report, the first quarter of 2011 brought a severe drop in TV sales, particularly in Western Europe, where the overall fall was 10% year on year (YoY). This is the first decline in sales since figures began being tracked in 2004.
Total EMEA TV shipments were down by 4.4% YoY to 17 million units. Eastern Europe saw a slight increase at 1% while the Middle East and Africa (MEA) region showed an 11% YoY increase in volumes. The UK, Spain and Italy struggled the most, showing around 18% YoY decline.
Meko senior TV analyst Goksen Sertler said: “We see stock levels in May climbing to 31% above their balance situation. TV brands are suffering with a lot of high-end TV model stocks especially LED-backlit and Stereo 3D (S3D) models. Most of the TV brands have been very aggressive in introducing LED backlit models. However, in Europe, not many consumers are ready to pay around a 40% price premium for a 40” LED backlit LCD TV model especially during difficult economic times.
“We expect the second half of 2011 to recover slightly. However Europe