AV zombie

The Chairman of Samsung, Lee Kun-hee, could be jailed for five years after being indicted by South Korean Special Investigators on charges of tax evasion and breach of trust. The revelation came at the conclusion of a very public 99-day probe into corruption charges. The shamed Chairman was found guilty of hiding 4.5 trillion […]

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It is looking increasingly likely that JVC will become the first Japanese TV maker to withdraw from its local market, citing fierce pricing competition for the retreat. Many of the company’s financial woes stem from its money-losing TV operation. JVC’s latest prediction is that it will lose 47.8 billion yen this fiscal year.
The company has […]

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Flatscreens and mobile phones have helped South Korea’s LG Electronics to turn last year’s financial loss into a first quarter net profit. The company has declared earnings of 422 billion won for Q1, with sales up 14.8 percent. LG’s Digital Display Company in particular is shining. Sales jumped 32.1 per cent to […]

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JVC has revised down already gloomy sales projections, “due to intensified competition as well as delays in the launch of some new products in the area of LCD televisions.” The Japanese CE icon is banking on a new breed of ultra-slim LCD TVs to reinvigorate the brand, but these have yet to come to market.
The […]

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Phillips says that difficult trading conditions surrounding its TV business are to blame for a 28 per cent fall in profits. In a statement about its poor past quarter performance, Gerard Kleisterlee, president and CEO, confirmed that while results across most of its operations were good, “our results are clouded, more than we like, by […]

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