Demand is growing worldwide for flat-panel televisions with liquid crystal or plasma displays. According to the Japan Electronics and Information Technology Industries Association, the global market for these devices will reach an estimated 7.9 million units in 2004, a 10-fold increase in three years. The global market for CRT (cathode-ray tube) TVs is projected at more than 120 million units for 2004, but new demand is declining as consumers rapidly switch to flat-panel models. Market entrants from outside the home appliance sector have been noticeable. Dell Inc. has announced plans to market plasma TVs in addition to the LCD (liquid crystal display) TVs that it already sells. And Canon Inc. (7751) is slated to bring to market in fiscal 2005 a TV featuring a flat panel that it co-developed with Toshiba Corp. (6502). Meanwhile, sales of rear-projection models are growing in the U.S. and China.
