Consumers in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam spent more than $2.1 billion on TVs in the first six months of 2011, purchasing more than 6.33 million TV units.
The region is seeing continued demand for LCD TVs and a new found interest in smart, internet-connected TVs.
"Smart TV is relatively new to SEA consumers, and its future success is directly dependent on the Internet penetration rate and Internet speed of each individual market, which explains why Singapore, with its high Internet penetration rate, is currently leading the region in Smart TV adoption level,” said Jasmine Lim, Regional Account Director for Consumer Electronics at market research company GfK Asia.
Overall LCD TV sales have grown by close to 30 percent since the first half of 2010, said GFK in a report released on August 8.
Despite increased interest in LCD and smart TVs, many Southeast Asian consumers are only just starting to make the switch from older CRT (cathode ray tube) TVs.
In developing regions such as the Philippines, Thailand, and Vietnam, CRT TV sales still make up more than 30 percent of each country's volume share said GfK.
"On the other hand, in Southeast Asia’s only developed market, Singapore, retailers have completely phased out selling CRT TV and we see a significantly higher proportion of sales derived from plasma TVs and LCD TVs, both with and without LED backlight,” said Ms Lim.
As second report by GfK predicts that Germans will buy a record-breaking 9.5 million flat-screen TVs in 2011 as consumers race to bring the latest HDTV, 3D and internet connected TV technology into their living rooms.
Brand new 3D and connected TV technology is expected to feature prominently during the world's largest consumer electronics and home appliances fair, IFA. IFA takes place from September 2 to 7 in Berlin, Germany.