Sales of flat-panel TVs in Asia increased 62 per cent in the last half of 2007, but traditional CRT televisions are still outselling the new technology, according to new market data.

More than 22 million flat-screen TVs will be sold in the region in 2008, research firm GfK Asia predicts.

The company counts sales in major regional markets including China, Korea, Taiwan, Thailand, Vietnam, Singapore, Indonesia, the Philippines and Australia, but does not include Japan.

Rising consumer spending power and falling prices are driving sales across the region, according to the research.

"Retail prices across Asia for flat-panel TVs continue to fall, even as manufacturers improve the technology and consumers increasingly opt for larger screen sizes," said Steven Kaiser, GfK Asia's commercial director of consumer electronics.

While two out of three TVs sold in the region use cheaper old-fashioned CRT tubes, which remain popular with low income customers, these now account for only one third of revenues generated by the market.

The booming popularity of flat screens means that demand may soon catch up with supply, slowing the rate of price decreases.

"Some signs suggest that the supply side is tightening which could slow the speed of price erosion considerably, especially if paired with a surge in demand," said Kaiser.