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LCD sales deliver Sharp profits jump

Sharp has said expects net sales and net profits for the first six months of its financial year to be substantially higher than...

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Sharp has said expects net sales and net profits for the first six months of its financial year to be substantially...

higher than last year's.

Buoyed by what it called "large sales increases" for LCD televisions and LCD panels to other display makers, the company said it expects net profit for the first half to be ¥39bn (£196m) against ¥27.9bn in the same period a year earlier. Net sales are forecast to be ¥1.25tn, up from ¥1.09 tn.

Sharp is a major manufacturer of LCD panels. It became the first Japanese consumer electronics company to embrace LCD televisions when it launched the TVs in Japan in 2000 and said it planned to eliminate the use of cathode ray tubes (CRTs) in domestic models by 2005.

The company's bet has paid off as domestic shipments of LCD TVs continue to rise while those of CRT-based models fall. In the first eight months of this year shipments of LCD televisions in Japan rose 70.2% on the same period a year ago, according to figures from the Japan Electronics and Information Technology Industries Association (JEITA). Shipments of CRT-based TVs during the same period fell by 19.2% on the year.

Martyn Williams writes for IDG News Service

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