Study: HDTVs taking over American homes

A Leichtman Research study indicates one-third of Americans now own an HDTV, with the number expected to rise in the next few quarters.

The 34 percent overall HDTV penetration rate is double the percentage in 2006. 

Twenty two percent of all homes in the United States purchased a new HDTV in the past year, while almost half of that number spent more than $1,000 for their new TV.

"About 40 million U.S. households now have at least one HDTV set, and LRG forecasts that this number will double over the next four years," said Bruce Leichtman, President and principal analyst of Leichtman Research said.  "While more people than ever before have HDTV sets, educating consumers on HD programming remains an issue.

The price of HDTVs continues to drop, but a slumping economy may influence consumers to save money instead of buy a new TV.  Once the economy picks up again, however, lower cost and wider selection of HD content through cable and satellite providers should help boost HDTV sales.

The sales will increase, in fact, as 33 percent of current HD owners already have more than one HDTV while 29 percent plan to purchase another HDTV in the next 12 months.

Many consumers who go into a retailer looking for a new TV find that, even if they don’t want to watch HDTV, their choices of non-HDTVs continues to shrink.  As manufacturers ramp up HDTV production, it’ll become increasingly difficult to find standard TVs, even at lower price points.

Do you own an HDTV?  If not, are you planning on purchasing one in the future?  Why or why not?