Smart TV Trumps Resolution in TV Features Consumers Value, Says Parks Report

Nearly 8 percent of U.S. broadband households will buy a 4K UHD TV this year out of 19 percent looking for a flat-panel TV overall, said Parks Associates research released Wednesday. Some 42 percent of those surveyed said they weren’t familiar with 4K technology, said Parks. Other challenges for 4K are premium prices for the technology, concerns over available 4K content and a “cooling market” for TVs in general, said Parks. Samsung led other brands mid-year, with 28 percent of 4K TV purchases made in the past 12 months, followed by LG with 17 percent, Sony with 13 percent and Vizio at 11 percent. Best Buy led retailers, with more than four in 10 4K TVs sold, it said. Price was a major motivator for 44 percent of buyers, regardless of resolution, said analyst Barbara Kraus, but 11 percent of 4K TV buyers were motivated to buy after learning about TV features, versus 3 percent of overall buyers. Smart TV functionality and Wi-Fi led the features consumers valued in TVs, with 56 percent versus 39 percent of buyers who valued higher resolution, said Kraus. "Content availability remains a key inhibitor to 4K adoption,” she said. Parks forecasts new growth in the TV market in 2016 will come from lower-cost 4K-related technologies, including OLED, Ultra HD Blu-ray players and high dynamic range.