Best Buy partners Panasonic for 3D TV sales; analysts say demand “uncertain”

panasonicJoining the league of companies looking to benefit from 3D technology, US electronics retail giant Best Buy has partnered with Japanese electronics biggie Panasonic for the exclusive US sale of Panasonic’s first 3D TV home-entertainment system bundle.

The high-end Magnolia Home Theater unit of Best Buy Wednesday commenced the sale of Panasonic’s $2,899.99-priced 3D package – which includes the $2,499.95-priced 50-inch Panasonic VIERA VT20 Plasma 3D HDTV; a $399.95 Blu-ray standard disc player; and viewing glasses costing $149.95.

Though the tie-up with Panasonic for 3D TV sales is a strategic move for the Minneapolis-based Best Buy, making it one of the few retailers in the US to sell a technology that has of late attracted all and sundry, analysts are divided on the prospective road to success for 3D TVs.

While Credit Suisse analyst Gary Balter said: “We were again impressed by the technology and do expect it to be a strong traffic driver for Best Buy in the near term”; BB&T Capital Markets analyst Anthony Chukumba said that 3D TV is “certainly not a must-have. I don't necessarily think that 3D TV is going to move the needle a ton for Best Buy in 2010.”

Meanwhile, Barclays’ analyst Michael Lasser expressed the apprehension that demand for 3D TVs was “uncertain” at the moment; and Goldman Sach analyst Matthew Fassler opined that 3D TV ‘will not’ be decisive for margins.