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TPV raises LCD TV shipment goal to 8 m. units for 2009.

Taipei, June 16, 2009 (CENS)--Thanks to the recent recovery of the U.S. consumer market demand, TPV Technology Ltd., 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% in the first quarter of this year from 3.7% 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% from a year earlier to US$1.38 billion, with its operating income plummeting 73% to US$21.3 million and net profits down 67.2% to US$14.88 million. At present, up to 32% of its revenue is generated in China and 27.7% in the U.S.

In the meantime, the ASP (average selling price) of TPV's monitors and LCD TVs dropped to US$102.2 and US$239.2, respectively, in the first quarter of this year from US$162.5 and US$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. ((SC)) (E)
Sales Performance of TPV

 Q1, 2008 Q4, 2008 Q1, 2009

Sales Revenue US$2.379 B. US$1.991 B. US$1.38 B.
Net Profit US$45 M. US$31 M. (Loss) US$15 M.
Gross Profit Rate 4.5% 3.4% 4.6%
Net Profit Margin 1.9% -1.6% 1.1%

Source: TPV
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Title Annotation:TPV Technology Ltd.
Publication:The Taiwan Economic News
Article Type:Brief article
Geographic Code:9TAIW
Date:Jun 16, 2009
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