Market research firm iSuppli has raised its estimate of LCD TV shipments for 2007 to 75.2 million as a result of rapid price reductions.
The revised estimate represents a 42.7 percent increase from the 52.7 million LCD TVs shipped in 2006. The company's original estimate for 2007 was 72.9 million.
While the expected growth from 2006 is impressive, it represents a significant slowdown compared to last year when shipments rose by 95.8 percent to reach 52.7 million units.
LCD TV panel shipments are on track to exceed 100 million units in 2008 and reach 171.6 million in 2011, said Sweta Dash, director of LCD and projection research at iSuppli. By then, they'll account for 65 percent of all TVs shipped worldwide.
Lower prices and the switch to HDTV are spurring demand for larger LCD TVs, the research firm said.
For more information, visit www.isuppli.com.