Xoceco, short for Xiamen Overseas Chinese Electronics, a China-based TV integrator, recently signed a plasma display panel (PDP) supply contract with LG Electronics (LGE). Xoceco is planning to increase its PDP procurement from LGE by 80% in 2007.
With the Chinese market continuing to grow much faster than anywhere else, demand for non-essential items such as plasma TVs and LCD TVs will grow even faster. In most developing countries, it is the rich that get richer quicker than the rest. And the rich, historically validated, have a penchant for expensive items.