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Hitachi eyes No. 1 share of global market for HDTV ready plasma TVs.

TOKYO, Dec. 20 Kyodo

Hitachi Ltd. on Tuesday unveiled a business strategy for flat-screen television sets, with an eye to capturing the biggest share of the global market for high-definition plasma TVs in fiscal 2008.

The business plan targets sales of 2.6 million plasma TVs in the year to March 2009, an 8.7-fold increase over fiscal 2004, to enable Hitachi to gain 30 percent of the global market for HDTV ready plasma TVs.

The company has mapped out the plan as its flat-screen TV business has fallen into the red in the face of Matsushita Electric Industrial Co. and other rivals' business offensives.

Under the plan Hitachi would streamline its manufacturing operations as prices of flat-screen TVs have kept falling at an annual rate of 30 percent.

Among specific measures in the plan, Hitachi will spend 85 billion yen to build a new factory in its plasma TV plant complex in Kunitomi in Miyagi Prefecture by 2008.

In addition, the company will release two new models a year, instead of one as hitherto.

Hitachi intends to introduce a 42-inch full HDTV plasma model in the spring of 2007.

Hitachi will also step up marketing through large discount stores in North America and expand its network of sales outlets in China to 60 from the current 21.
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Publication:Japan Consumer Electronics Scan
Geographic Code:9JAPA
Date:Dec 27, 2005
Words:218
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