Southern Daily, 10/19/11
China's TV set sales rose 10.7% in Q3 2011 to 9.96 mln units, according to Chinese market research firm AVC and the China Video Industry Association (CVIA). Sales volume for Q4 2011 is projected to reach 12.69 mln, including 11.36 mln LCD TV sets, up more than 12% YoY.
Declining LCD panel prices due to oversupply since June 2011 created an opportunity for TV set manufacturers to lower prices and drive up sales, according to Jin Xiaofeng, deputy GM of AVC. Many vendors also began discount promotions in Q3 2011 to spur sales after failing to meet H1 2011 sales targets,
An industry source earlier claimed that falling LCD panel prices could lead to comparatively better profits, but TV manufacturers were prematurely entering into a price war which would result in industry net profit declining 2-3% in H2 2011.