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.