TPV Raises LCD TV Shipment Goal to 8M Units for 2009

Thanks to the recent recovery of the US consumer market demand, TPV Technology Ltd, said to be the largest TV maker in the world, has enjoyed an influx of contract orders and therefore projected its shipment of LCD (liquid crystal display) TVs to rise to 8 million units from original 7 million units for this year, according to Jason Hsuan, Chairman of the firm.

Hsuan noted that his company`s business operations have been improving since the end of last year, with its gross profit rate rising to 5.1 percent in the first quarter of this year from 3.7 percent of the preceding quarter. In light of the increasingly strong consumer demand for LCD TVs, the firm has decided to boost its shipment projection for the year.

Apparently not immune to the global economic recessions, TPV saw its sales revenue for the first quarter plunge 42 percent from a year earlier to $1.38 billion, with its operating income plummeting 73 percent to $21.3 million and net profits down 67.2 percent to $14.88 million. At present, up to 32 percent of its revenue is generated in China and 27.7 percent in the US.

In the meantime, the ASP (average selling price) of TPV`s monitors and LCD TVs dropped to $102.2 and $239.2, respectively, in the first quarter of this year from $162.5 and $437 a year earlier. To infuse growth momentum into its sales performance for the next two to three years, the firm will launch its all-in-one PC, Net Top, in the fourth quarter.

Source: CENS