AfterDawn: Tech news

LG cuts TV sales forecast

Written by Andre Yoskowitz @ 18 Aug 2011 11:23

LG cuts TV sales forecast

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.

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