Computer monitor maker TPV Technology is pinning hopes for growth on increasing sales of thin-film transistor liquid crystal display (TFT-LCD) monitors after posting a 17.9 per cent gain in net profit to US$51.09 million last year.
The company attributed the improved result to increased TFT-LCD monitor sales and original design manufacturing (ODM) contracts.
Turnover rose 20.9 per cent to US$1.5 billion.
'We have strong confidence in the TFT-LCD monitor market. With the robust growth seen in 2002 and the continued growing market trend, we expect the contribution from TFT-LCD monitors to increase to more than 50 per cent and overtake CRT [cathode-ray tube] monitors to become the driver of the group's future revenue growth,' said chairman Jason Hsuan.
The company said it expected a modest increase in shipments of CRT monitors this year despite an estimated 6 per cent decline in global demand to 78 million units, according to a Core Pacific-Yamaichi report.
Reuters reported that TPV had set a 20 per cent growth target for its monitor sales this year.