Sluggish necessitate for flat-screen HDTV displays in these economically troubled times has hit idiot box sales hard. LG Electronics and Philips Electronics, two TV manufacturers who worn to be partners in the manufacturing of accustomed CRT (cathode flash tube) televisions and more recently LCD TV panels, have reported disconcerting sales figures in their personal fourth fourth 2010 results. On Monday, Dutch consumer electronics gigantic Philips revealed that declining sales in its TV operations resulted in lower-than-expected sifter further for the fixed humanity of conclusive year. Speaking to investors over a forum call, the company’s former supreme pecuniary tec Pierre-Jean Sivignon placed the indict squarely on weakened consumer emotion in full-fledged markets (particularly Western Europe). The return gain of 465 million euros (around £400 million) that Philips posted was absolutely some spirit off the average foretell of 532 million euros (approximately £458 million) polled by Reuters amidst 20 analysts.
Looking forward, the Dutch resolute will caftan its concentrate from developed markets (such as Western Europe and the USA where HDTV sales have slowed) to emerging markets with Brazil, Asia and Russia where there is more capacity for growth. To balm with this, the flock is appointing two font executives who are versed in work expansion in Asian regions: Frans van Houten as main management officer (CEO); and Ron Wirahadiraksa as head financial officer. On Wednesday, South Korean conglomerate LG Electronics reported a grating injury for the antecedent quarter, the company’s initial in seven quarters. For the three months to 31 December 2010, a trouncing of 256.4 billion Korean won (about £144 million) was posted, which contrasted abruptly with the take-home advantage of 361.9 billion Korean won (around £204 million) during the same space a year ago.
Again, unproductive customer acceptance for flat-panel HDTVs in the muffled yet gravely competitive European markets was cited as one of the reasons for the wobbly performance. LG and Philips were labyrinthine in a brace of seam ventures: LG-Philips Display which mainly dealt with CRTs; and LG-Philips LCD which manufactured active-matrix translucent crystal demonstration (AMLCD) panels. In 2008, Philips sold all its shares in LG-Philips LCD to the South Korean company, who also afterward renamed the performance to LG Display.
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