Global TV Brands Cut 2011 Forecast

DigiTimes:

Japan-based vendors have made big cuts to the goals, the sources said. Sony has almost halved its 2011 shipment goal from 40 million units to 23 million.

Korea-based Samsung has reduced its 2011 shipment goal to around 36-37 million units, sliding over 25% compared with its original target. LG revised its shipment goal to less than 27 million units in 2011, an over 30% decrease from the initial goal.

Philips, Vizio, and Panasonic have also lowered their 2011 shipment goals, the sources noted.

TV brands have been pushing 3D, Internet connectivity, widgets, etc., features that few care about. Combine that with potential customers who are increasingly sensitive to price and you get a big mismatch, growing inventory, and lower sales expectations.