Growth of the global TV market is forecast to further slow in the coming years on falling demand for liquid crystal display TVs, with local TV makers scrambling to beef up their premium lineups in a bid to secure profit, a report said Wednesday.
  

Global TV sales are estimated to reach US$97.1 billion at the end of this year, down from $99.5 billion a year earlier, according to the latest report by market tracker IHS.
  

Its global shipments had amounted to as high as $117.8 billion in 2010, before gradually dwindling to $99.9 billion in 2013.
  

The report predicted that its market size will likely shrink further to $98 billion next year and $96 billion won by 2019.
  

A continued drop in LCD panel prices has accelerated the decline in the overall sales, amid unfavorable offshore market conditions such as currency volatility in emerging countries, the report said.
  

Such a downtrend in the LCD TV market has prodded South Korean manufacturers to realign their portfolios, focusing on high-end models with bigger screens such as the organic light-emitting diodes and ultra high-definition TVs.
  

South Korea's LG Electronics Inc. has been taking the lead in the production of OLED TVs, while tech giant Samsung Electronics Co. added the quantum dot-based Super UHD to its new lineup this year, seeking to create new growth drivers.
  

LG, the world's top maker of home appliances, rolled out its premium TV lineups in key overseas markets including the U.S., South America and Russia, making a turnaround in its home entertainment division in third-quarter earnings.
  

The portion of Samsung's UHD TV sales rose to 19 percent on-quarter from 17 percent as of end-September, according to the report. Samsung said it plans to beef up marketing for the high-end models for Black Friday and Christmas. (Yonhap)