Glass cathode ray tubes held their own in the EU TV market in the third quarter of 2003, but experts are putting it down to a shortage of and high prices for liquid crystal display (LCD) glass panels. The industry analyst Meko said LCD television glass took over market leadership in Europe during the second quarter, but then its growth had slowed considerably since then. Even so, Meko still expects LCD monitors to hold 75% of the market in Europe by 2005. In the third quarter of 2003, markets in southern Europe showed declines due to the summer holiday season. Prices for LCD panels and a shortage of 15in LCD panels mean that LCD monitor sales accounted for only 0.7% more of the market in the third quarter than in the second. Overall, the monitor market grew in Europe, but less than normal third quarter increase and now, overcapacity is predicted in 2004.
