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Furthermore, year on year, the growth in high definition spending has increased overall by 39 per cent compared to Q1 2007, which was authored by industry analysts GfK.
According to Carl Rose, Managing Director of Sony Australia. "For retailers, this continued HD TV market growth is encouraging as we are now witnessing a flow on effect of sales into other high definition categories that complement an HD TV. At present, LCD HD TVs alone make up 61 per cent of spending on HD hardware products, but sales in complementary products are also on the rise. For example, the sales value of HD camcorders accounted for 25.7 per cent of total camcorder revenues in Q1 2008."
Demand for HD camcorders is now well established, with 11.5 per cent of all sales in the camcorder market made up of HD models. Unit sales of HD camcorders tripled compared to last year's results in Q1 2007, the report found.
According to the report, for the quarter of January to March 2008, HD represented 79 per cent of all CE sales revenue compared to 21 per cent for non-HD models, the highest proportion recorded for HD models since the Benchmark report began in 2005. The total sales value for all hardware products (HD and non-HD) in The Benchmark tracked a year on year growth of 18.5 per cent from Q1 2007.
