ARLINGTON, VA.—With many more people wishing to unwrap a 4K/UHD TV during the holiday season, the Consumer Technology Association has reported that 4K/UHD sales should reach an all-time high. CTA forecasts that 4.5 million units will be shipped during Q4 2016, bringing 2016’s total to 10 million, a 40 percent increase over 2015.
While CTA’s estimates would mean that 56 percent of all TV sales during Q4 would be 4K/UHD models, the total annual sales of TV is also drawing to a 50 percent stake for 4K/UHD. Some of the reasons cited by the organization for this growth include the increase of brands and sizes offering TVs at lower prices, and new technologies like HDR and wide color gamut being more widely available. CTA reports that the wholesale price of 4K/UHD TVs has decreased 22 percent since January.
CTA did initially predict that unit sales for 4K/UHD TVs would reach 14.5 million this year, but Q2 results were more gradual than expected as TV makers transitioned to 4K models. Some of the expected trends now look like they will have a bigger impact in 2017.
“Growth of the 4K/UHD market continues to dwarf the transition to high-definition television,” said Steve Koenig, CTA senior director of market research. “Just three years since introduction, cumulative sales of 4K UHD displays are forecast to hit 18.6 million units, while sales of HDTVs reached 4.2 million units in their first three years on the market.”
Additional findings from CTA show that 4K/UHD Blu-ray format crossed the 1 million disc sold mark in October, generating more than $25 million in consumer spending.