LG cuts TV sales forecast

Andre Yoskowitz
18 Aug 2011 23:23

LG Electronics has cut its annual TV sales forecast by 20 percent, citing an uncertain global economy.
Rival Sony issued a similar warning just last week.
Market leader Samsung has long held a weak sales outlook for TVs in Europe and the U.S. for the coming quarters.
Says LG:

TV sales are seen sharply below our original target and may come in at around 32 million units this year, as the euro zone fiscal crisis is likely to continue and a U.S. consumption recovery also remains uncertain.

For the year, LG expects 40 million HDTV sales.
Sony dropped its forecast from 27 million to 22 million last week.