LCD televisions high on Christmas shopping list

Consumer electronics will be high on Christmas lists this year despite the downturn, a new Consumer Electronics Association report finds.

The survey, which only questioned shoppers in the United States, found they plan to spend an average of 28% of their Christmas shopping money on consumer electronics, up from 22% last year.

But the television is set to be the hottest item, with the average price of a 32-inch LCD television at $US858, down from $US1000 in 2007.

iSuppli analyst Riddy Patel told businessweek.com the oversupply of LCD panels means manufacturers are simply passing on the savings. “The prices are suddenly very attractive on these sets. The only question is how consumers will react,” she says.