China's May holiday TV sales worse than expected
May 15, 2014, 12:06 am TWN
TAIPEI -- Television sales in China during the May 1 holiday were weaker than expected because of the strong baseline set a year earlier and weak consumer sentiment, a Taipei-based display research firm said Wednesday.
TV sales during the three weeks around the Labor Day holiday, one of China's peak shopping seasons, totaled 3.74 million units, down 10.2 percent from the same period a year ago, according to WitsView.
“The lower-than-expected sales drop during the Labor Day holiday was because last year's shipments were bolstered by the subsidy policy,” said WitsView research director Burrell Liu, referring to a subsidy program for energy-saving devices that has since ended.
“In addition, consumers had a wait-and-see attitude on prices and promotions in anticipation of the National Day holiday in October, resulting in lower Labor Day Holiday sales,” he wrote in a research note.
The analyst also highlighted another trend in the TV industry, saying that the Chinese LED TV market's focus has shifted from LED and 3D technology to ultra-high definition (UHD) products this year.