Pandemic Lockdowns to Send Q2 TV Shipments Plunging 40%, Says Omdia
The COVID-19 pandemic and its associated lockdowns sparked Omdia to downgrade its 2020 global TV shipment outlook by nearly 10 percentage points, said the former IHS Markit research firm Tuesday. It now expects TV shipments to decline 8.7% this year…
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to 203.5 million sets, from 222.9 million in 2019. The previous forecast was for shipments to rise 1.1% to 225.4 million sets, it said, meaning "a 9.8% downswing in the shipment forecast for the year.” Any hope for a robust 2020 in TV shipments “completely evaporated during the past month as concerns about supply interruptions have been eclipsed by rising industry anxiety over a coronavirus-driven demand crash,” it said. The biggest “demand drop” will happen in Q2, when shipments in Europe and North America are expected to decline 40%, said Omdia. It’s forecasting “a flurry of rescheduled sports events in 2021 will boost television sales” next year.