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Flat-panel TVs are consumer bellwether

Posted on: Saturday, 29 November 2008, 10:28 CST

Sales of flat-screen, high-definition television sets have become the bellwether for U.S. consumer confidence this holiday season, analysts say.

The digital sets are increasingly central to the fortunes of the consumer electronics industry as well as to many retailers who are expecting well-below-normal Christmas gift sales to cash-strapped shoppers, The New York Times reported Saturday.

The television becomes a litmus test of the robustness of the American economy, Richard Doherty, an electronics industry analyst with the research firm Envisioneering, told the Times, adding that his consumer surveys show mixed feelings in that while many consumers say they want new TVs, they are also waiting for prices to drop.

An added impetus for HDTV sales is the looming move by U.S. broadcasters to drop their over-the-air analog signals and replace them with digital broadcasts starting Feb. 17, analysts said.

The Times said Americans are expected to spend $28 billion this year on TVs, making them the largest segment of the $173 billion electronics industry.

Source: United Press International

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