Demand for HD television buoys Pace

 
Steve Dinneen
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Pace, the world’s largest set-top box maker, has managed to maintain the blistering rate of sales it set in the wake of the World Cup.

Demand for its high-definition services continues to rocket, solidifying the firm’s position at the top of the market, ahead of bitter rival Motorola.

The UK-based firm now says it is confident it will meet expectations for the year, and confirmed its outlook of mid-single digit underlying revenue growth next year.

Finance director Stuart Hall said: “High-definition is a major driver, it is becoming the norm and over 70 per cent of our shipments are high-definition now.”

The company bought US technology firm 2Wire in July to broaden its customer base beyond satellite and cable and into the rapidly expanding internet TV market.

Hall said the deal, which completed earlier this month, meant Pace was well positioned for the convergence of video, voice and data services.

Technology giants such as Apple and Google are moving into TV, with services such as video-on-demand, but Hall said they were not a major threat to Pace’s cable and satellite customer base. He said: “They don’t really compete with linear TV but they are driving operators to innovate. Consumers are expecting a better experience.”

Analysts expect the firm to report pre-tax profit of £97.1m on revenue of £1.28bn for the year.