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SINGAPORE: With the economic recovery, Asian consumers have also started loosening their purse strings.
Consumer research firm GfK Asia said more are willing to splurge on big ticket items in home technology.
It said spending on consumer electronics grew 17 per cent in the last 12 months to some US$9 billion in the nine Asian countries it surveyed.
The overall 17 per cent growth in the consumer electronics category was mostly driven by the TV category, particularly LCD TV segment.
In the past twelve months, consumers in the region spent over US$5 billion on LCD TVs.
In most Asian countries, flat screen TV has almost completely replaced the CRT TV, and they make up 70 per cent of the overall television sales in the region.
Other home technology products that are also doing well in Asia are higher-end audio home entertainment systems and DVD players and recorders.
-CNA/wk
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