TPV income slips amid sluggish sales

PUBLISHED : Thursday, 25 November, 2010, 12:00am
UPDATED : Thursday, 25 November, 2010, 12:00am

TPV Technology yesterday announced sluggish quarterly results on weak demand for its products. Sales of personal computer monitors rose 4.2 per cent in the third quarter from the second and LCD televisions increased 7.9 per cent. Turnover for the three months to September was US$2.95 billion, 3.7 per cent lower than the preceding quarter. The company said that with key component prices stabilising and channel inventories depleted in the run-up to the end of the year, its profitability would improve. Net profit was US$32 million, down 20.3 per cent quarter on quarter and 19.1 per cent year on year.