Toshiba Corporation announced that it would strengthen its liquid crystal display (LCD) TV business and expand sales in Europe by establishing Toshiba Television Central Europe Sp. zo. o., a new production and sales company for LCD TV, in Kobierzyce, near Wroclaw, Poland in September 2006. Representatives of Toshiba and the Polish Ministry of Economy met in Warsaw and signed a letter of intent on Toshiba's investment.
Global demand for LCD TVs has doubled every year since the 2001 fiscal year. Demand growth is particularly strong in Europe, already the world's largest LCD TV market, and is expected to expand from almost 8.7 million units in the 2005 fiscal year to approximately 33 million units the 2009 fiscal year.
Toshiba currently manufactures LCD TVs in Europe at Toshiba Information Systems (UK) Ltd. (TIU). The establishment of the additional production base will support Toshiba in meeting demand and reinforcing its presence in the pan-European market. The total investment in the Kobierzyce plant will reach about 6 billion yen (approx. U.S. $51.2 million) over 5 years, and production will start in August 2007. Toshiba targets combined production at Kobierzyce and TIU of some 3 million units by the 2009 fiscal year, with the main focus on large sized LCD TVs with screen sizes of 32-inches and above.
Toshiba plans a rapid ramp-up of capacity at the Kobierzyce plant, and to win an increased share of the European LCD TV market.
to Daily News