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LG, Sharp See Unit Growth In Flat-Panel TVs

5/03/2010 12:01:00 AM Eastern

NEW YORK — Both LG Electronics
and Sharp Electronics reported higher
flat-panel TV unit demand in their respective
financial statements filed last week.

LG reported LCD TV shipments were up
62 percent year on year while Q1 large-screen
PDP TV shipments grew 36 percent.

LG’s home entertainment unit recorded a
20.5 percent gain in sales and an operating
profit of $163.9 million, compared with a loss
of $900,000 in the prior year’s first quarter.

Overall LG’s net profit was $607 million,
up from a loss of $180 million from
the prior year. Sales were $12.3 billion for
the quarter, ended March 31, up 3.7 percent
from the prior year’s opening quarter.

Sharp Electronics, in its fiscal year that
ended March 31, said that on a monetary
basis, sales of LCD TVs for the year were
$7.13 billion, down 8.6 percent from the
previous year. But sales on a unit basis
were 10.18 million sets, up 1.8 percent.

Sales of LCD TVs destined for overseas
markets declined during the year. Operating
income was $39.5 million, compared
with an operating loss of $617 million
posted in the previous year, as profits improved
for LCD TVs, Sharp said.

Sharp reported that in large-size LCDs
it was temporarily affected by high prices
of materials for LCD TV panels and costs
associated with the start of operations at
an LCD plant in Sakai last October.

Overall, Sharp reported net sales were
$29.5 billion, down 3.2 percent from the
prior year, while net income was $45.9
million, compared with a net loss of $1.34
billion in the prior fiscal year.

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