Malaysian consumers taking to web-connected TVs

• LED and web-connected TVs gaining grounds among consumers
• Malaysian TV market registers  50% growth

THE world is flat. Or at least the TV world in Malaysia is. Market research firm GfK Malaysia said that Malaysians are buying more television sets and a gradually growing proportion are reaching for those that come enhanced with LED backlit or Internet connectivity features, or even a combination of both.

Retail audit findings revealed that the fast growing US$629-million Malaysian TV market registered 50% volume and 17% value growth in the last 12 months, the company said in a statement.

LED (light-emitting diode) TVs are rising in popularity, as reflected by the consistent month-on-month growth over the last one year. Today, more than one in every three (37%) units sold in the country is an LED TV, as compared to one year ago where this segment only contributed 17% to the volume sales of all flat screen TVs.

“As technology continues to develop and advance, lower prices have made LED TVs increasingly affordable and this is a key factor driving its escalating sales in the country,” says Jennifer Chan, general manager of GfK Malaysia.

“We are witnessing falling TV prices across the board. For instance, the price of a 42-inch LED TV averaged at US$973 a year ago but today cost 31% less, at just US$673.”

Internet connectivity is another feature of the latest TV range that is increasingly sought after by consumers. The take-up rate of web-connected TVs has been steadily gaining momentum over the last 12 months, where nearly 215,000 units, or 17% of all flat panel TVs sold came enabled with the ability to access content on the Internet.

This reflects a 10-point incremental share over the previous period, which reported a mere 7% market share then.

“Internet access is an essential aspect … in today’s developed society, as demonstrated by the latest popular gadgets such as smartphones, tablets, cameras and now TVs,” says Chan.

While consumers a year ago only had around 50 models of TVs with the Internet connectivity function to choose from, their options have widened significantly today as they are presented with over 100 models of TVs with this innovative feature.

Web-connected TVs form 17% of all TV models being offered in Malaysia.

GfK Malaysia findings also reveal rising number of consumers in Malaysia who are going for larger TV screen sizes, driven by its declining prices. Sales of 40-inch and above TVs have grown considerably to make up 44% of the total pie, an increase of 6% over the previous period.