LG, Samsung look to strengthen lead in LCD business

LG Electronics has bold ambitions to drastically increase LCD TV sales during 2009, in an effort to kick Japanese TV manufacturers while they’re down.

Japanese electronics makers are suffering from a struggling Japanese and global economy, as analysts predict Korean companies will be able to steal market share away from their Japanese counterparts.

LG is currently ranked No. 3 in the LCD TV market, and hopes to sell as many as 18 million TVs this year, according to LG executives.  Samsung, the current top dog in the LCD TV market, announced it plans to sell 22 million LCD TVs in 2009, which would be around 10 percent market growth.

Analysts are not sure if LG and Samsung are thinking realistically, as the global economic crunch with several other factors may hurt sales. 

For example, despite the fact that the United States is ready for a digital TV switch — which may or may not happen, depending on President-elect Obama and the current Congress — consumers are buying digital signal converters instead of purchasing new TVs, even with discounts.

A quick look around the main show halls at the Consumer Electronics Show (CES) reveals a huge demand with new TVs, as there are plenty of new TVs on display.  Even if manufacturers can’t reach their published goals, they’ll continue to move ahead with thinner TVs, ITVs, and other technological breakthroughs being shown at CES.

Are you looking forward to the future of HDTVs?  Will you purchase an ITV?