TV shipments are beginning to settle down to a post-pandemic level, according to Paul Gray, Omdia’s Research Director, Consumer Electronics.
In a presentation to the 10th HbbTV Symposium & Awards in Prague, Gray said he anticipated 2023 to be a quiet year with a weak start following 2022’s World Cup where manufacturers had been very cautious with their promotions. 2024 would then see a recovery, boosted by the Paris Olympics and the European Football Championships.
Around 30 million units were sold in Western and Eastern Europe in 2021, on a par with 2020.
Gray does not believe that a recession will have any major effect on sales as TV offers lasting value to consumers. “Even if there is no recession then consumers’ euros in their pockets will. If we go back 25 years there is no strong link between the tv market and the economy. You may not go out for a meal or go to the cinema, but TV represents very good value,” he said. They may not get exactly the TV set they wanted to buy but this is a very resilient business.”
Eastern Europe will continue to grow, but there is uncertainty around Russia, where there has been an erosion of disposable income similar to what was seen in 2014.
