JVC’s first quarter financials for fiscal 2007 make for gloomy reading. Despite increased net sales, at 176.1 billion yen, the company declared a wider net loss of 1.9 billion yen for the quarter.
In a statement, the company says its “Consumer Electronics segment in Japan declined year-on-year. The elimination of available DVD recorder models contributed to the decline, although sales of hard disk camcorders were up significantly.”
Regardless, JVC continues to try and restructure its business operations, based on an ‘Only One ‘strategy of developing niche-leading products, such as D-ILA microdisplay projection TVs and Everio Series hard disk camcorders.
In Europe both LCD TV and camcorders have performed well. “Total sales in the Consumer Electronics segment were 132.7 billion yen for the quarter, up 0.2 percent year-on-year from 132.4 billion yen.”