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Televisions - UK - November 2014

“Brands must hold their nerve and resist the urge to discount 4K TVs heavily in 2015, following the commoditisation of smart and 3DTVs – technologies that no longer command a significant premium.

If manufacturers and retailers remain patient, it could be worth them putting up with tough market conditions for another 12-18 months, by which time 4K content is expected to become more readily available.”
– Paul Davies, Senior Leisure and Technology Analyst

This report answers the following questions:

  • In light of the lack of 4K content, how can brands drive sales of Ultra HD TVs?
  • Will young consumers discard their televisions as viewing moves online?

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Table of contents

  1. Introduction

      • Definition
        • Exchange rates
          • Abbreviations
          • Executive Summary

              • The market
                • Value forecast
                  • Figure 1: Value forecast of UK television sales, 2009-19
                • Segment performance
                  • Most TVs sold in 2014 will be smart
                    • Figure 2: Share of television volume sales, by smart technology, 2012-14
                  • Companies, brands and innovations
                    • Market share
                      • Figure 3: Volume share of television sales, by brand, 2012 and 2013
                    • The consumer
                      • Smart TVs now in a quarter of homes
                        • Figure 4: Household ownership of televisions, by television type, August 2014
                      • Some 35% of TV owners still have three or more sets at home
                        • Figure 5: Number of televisions in the home, June 2013 and August 2014
                      • Smart TVs yet to establish a presence in secondary rooms
                        • Figure 6: Household ownership of televisions, by room, August 2014
                      • Smart TVs will transform online viewing patterns
                        • Figure 7: Devices used to watch TV programmes and films via stream or download, August 2014
                      • A quarter of online viewers switch to secondary devices due to lack of direct access
                        • Figure 8: Attitudes towards online viewing and televisions in the home, August 2014
                      • Picture quality is still key for consumers
                        • Figure 9: Purchasing influences, August 2014
                      • Two fifths of TV owners interested in upgrading to 4K
                        • Figure 10: Ownership and interest in Ultra HD 4K TVs, August 2014
                      • Ultra HD adoption will be dependent on compatible content
                        • Figure 11: Attitudes towards 4K TVs, August 2014
                      • What we think
                      • Issues and Insights

                          • In light of the lack of 4K content, how can brands drive sales of Ultra HD TVs?
                            • The facts
                              • The implications
                                • Will young consumers discard their televisions as viewing moves online?
                                  • The facts
                                    • The implications
                                    • Trend Application

                                        • Trend: The Nouveau Poor
                                          • Trend: Green and Lean
                                            • Mintel Futures: Access Anything, Anywhere
                                            • Market Drivers

                                              • Key points
                                                • Less than one in 10 spending spare cash on home electronics
                                                  • Figure 12: Trends in what consumers’ extra money is spent on, September 2013-September 2014
                                                • Average price of AV products fell in 2013
                                                  • Figure 13: Annual consumer prices inflation, 2013
                                                • TV market reaps the rewards of the football once again
                                                  • EU legislation sees energy saving become a hot topic
                                                    • Watching TV still the ‘most missed’ media activity…
                                                      • Figure 14: Media activity that consumers would miss the most if it were taken away, 2007-13
                                                    • …however, only half of 16-24s’ viewing time involves watching live TV
                                                      • Figure 15: Proportion of watching activities, by age, 2014
                                                    • Consumers more than twice as likely to have access to a tablet than a smart TV
                                                      • Figure 16: Household ownership of computers and smart TVs, January 2012-June 2014
                                                    • Broadband and broadcast infrastructure not up to speed in time for 4K
                                                    • Who’s Innovating?

                                                      • Key points
                                                        • Curved TVs give premium designs a new angle
                                                          • Figure 17: LG’s 77” curved OLED TV, unveiled at the IFA exhibition in September 2014
                                                        • The race to deliver 4K content is on
                                                          • Smart partnerships give brands standout features
                                                            • Dolby crosses the AV line
                                                            • Market Size and Forecast

                                                              • Key points
                                                                • Value of Ultra HD TVs to offset falling demand
                                                                  • Figure 18: Total value and volume of television sales, 2009-19
                                                                  • Figure 19: Average selling price of televisions in the UK, 2009-19
                                                                • Forecast
                                                                  • Value
                                                                    • Figure 20: Value forecast of UK television sales, 2009-19
                                                                  • Volume
                                                                    • Figure 21: Volume forecast of UK television sales, 2009-19
                                                                  • Forecast methodology
                                                                  • Segment Performance

                                                                    • Key points
                                                                      • LED screens set to wipe out plasma and standard LCDs
                                                                        • Figure 22: Volume sales of televisions, by display type, 2011-13
                                                                        • Figure 23: Share of television volume sales, by type of set, 2011-13
                                                                      • Most TVs sold in 2014 will be smart
                                                                        • Figure 24: Share of television volume sales, by smart technology, 2012-14
                                                                        • Figure 25: Proportion of large-screen TVs (32”+) on the Currys website that feature smart technology, February 2013-October 2014
                                                                    • Market Share

                                                                      • Key points
                                                                        • South Korean giants appear set for further domination
                                                                          • Figure 26: Volume share of television sales, by brand, 2009-13
                                                                      • Companies and Products

                                                                        • Key points
                                                                          • LG Electronics
                                                                            • Company overview
                                                                              • Products and recent activity
                                                                                • Figure 27: LG’s 77” curved OLED TV, unveiled at the IFA exhibition in September 2014
                                                                              • Financial performance
                                                                                • Figure 28: LG Electronics key financials, 2012 and 2013
                                                                              • Strategy
                                                                                • Panasonic Corporation
                                                                                  • Company overview
                                                                                    • Products and recent activity
                                                                                      • Financial performance
                                                                                        • Figure 29: Panasonic Corporation key financials, 2012/13 and 2013/14
                                                                                      • Strategy
                                                                                        • Samsung Electronics
                                                                                          • Company overview
                                                                                            • Products and recent activity
                                                                                              • Financial performance
                                                                                                • Figure 30: Key financials for Samsung Electronics and consolidated subsidiaries, 2012 and 2013
                                                                                              • Strategy
                                                                                                • Sony Corporation
                                                                                                  • Company overview
                                                                                                    • Products and recent activity
                                                                                                      • Figure 31: Sony’s S9 curved Ultra HD 4K TV, launched 2014
                                                                                                    • Financial performance
                                                                                                      • Figure 32: Key financials for Sony Corporation and consolidated subsidiaries, 2012/13 and 2013/14
                                                                                                    • Strategy
                                                                                                    • Brand Communication and Promotion

                                                                                                      • Key points
                                                                                                        • Adspend steadies in preparation for Ultra HD launch
                                                                                                          • Figure 33: Advertising expenditure on televisions, 2010-13
                                                                                                        • Samsung ahead of the curve
                                                                                                        • The Consumer – TVs in the Home

                                                                                                          • Key points
                                                                                                            • Smart TVs now in a quarter of homes…
                                                                                                              • Figure 34: Household ownership of televisions, by television type, August 2014
                                                                                                            • …but 3D lags behind
                                                                                                              • The financial divide – tighter budgets have restricted the reach of smart and 3DTVs
                                                                                                                • Figure 35: Household ownership of televisions, by financial situation, August 2014
                                                                                                              • More than a third still have three or more sets at home
                                                                                                                • Figure 36: Number of televisions in the home, June 2013 and August 2014
                                                                                                              • Smart TVs yet to establish a presence in secondary rooms
                                                                                                                • Figure 37: Household ownership of televisions, by room, August 2014
                                                                                                            • The Consumer – Online Viewing

                                                                                                              • Key points
                                                                                                                • Smart TVs will transform online viewing patterns
                                                                                                                  • Figure 38: Devices used to watch TV programmes and films via stream or download, August 2014
                                                                                                                • Millennials – a generation divorced from linear TV
                                                                                                                  • Figure 39: Devices used to watch TV programmes and films via stream or download, by age, August 2014
                                                                                                                • A quarter of online viewers switch to secondary devices due to lack of direct access
                                                                                                                  • Figure 40: Attitudes towards online viewing and televisions in the home, August 2014
                                                                                                              • The Consumer – Purchasing Influences

                                                                                                                • Key points
                                                                                                                  • Picture quality is still key for consumers
                                                                                                                    • Figure 41: Purchasing influences, August 2014
                                                                                                                  • Demonstrating the cost saving of A+ energy-rated TVs would interest over-65s
                                                                                                                    • Figure 42: Purchasing influences, by age, August 2014
                                                                                                                  • Trade in 1080p for 4K campaign could spark interest
                                                                                                                  • The Consumer – 4K TVs

                                                                                                                    • Key points
                                                                                                                      • Two fifths of TV owners interested in upgrading to 4K
                                                                                                                        • Figure 43: Ownership and interest in Ultra HD 4K TVs, August 2014
                                                                                                                      • Half of parents interested in acquiring 4K TVs
                                                                                                                        • Figure 44: Interest in Ultra HD 4K TVs, by parental status, August 2014
                                                                                                                      • Ultra HD adoption will be dependent on compatible content
                                                                                                                        • Figure 45: Attitudes towards 4K TVs, August 2014
                                                                                                                      • Men more engaged, but still unlikely to upgrade purely for 4K
                                                                                                                        • Figure 46: Attitudes towards 4K TVs, by gender, August 2014
                                                                                                                    • Appendix – Market Size and Forecast

                                                                                                                        • Figure 47: Best- and worst-case value forecast of UK television sales, 2014-19
                                                                                                                        • Figure 48: Best- and worst-case volume forecast of UK television sales, 2014-19

                                                                                                                    Companies Covered

                                                                                                                    • Brooklands Group
                                                                                                                    • Fédération Internationale de Football Association
                                                                                                                    • Freeview
                                                                                                                    • Harrods Group Total
                                                                                                                    • John Lewis Plc (department store)
                                                                                                                    • LG Electronics (UK)
                                                                                                                    • Matsushita Electric Industrial Co., Ltd.
                                                                                                                    • Netflix, Inc.
                                                                                                                    • Samsung Electronics (UK) Ltd
                                                                                                                    • Sony (UK) Ltd
                                                                                                                    • Zenith Electronics Corporation

                                                                                                                    Televisions - UK - November 2014

                                                                                                                    £1,995.00 (Excl.Tax)