Consumer electronics maker Matsushita Electric Industrial Co Ltd. said that it plans to double its share of the fast-growing flat-panel television market by the 2005-2006 business year.
Matsushita, maker of Panasonic products, had a 16-percent global market share in 2002-2003, but wants to capture 30 percent within 3 years.
The company aims to boost its share of the liquid crystal display (LCD) TV market to 25 percent from 11 percent over the next 3 years and that of the plasma display panel (PDP) TV market to 30 percent from 22 percent, Tsutomo Ueda, an executive officer at Matsushita, said at a news conference.
The announcement is part of Matsushita's effort to put its record loss in 2001-2002 firmly behind it by focusing on profitable advanced products such as DVD recorders and big-screen PDP TVs.
The latest sales targets were given when the electronics giant unveiled 13 new flat-panel TVs in its newly named "Viera" series, to be launched in the domestic market this autumn. The products range from 14- to 50-in diagonal screen sizes and include three PDP TVs and 10 LCDs.
The company plans to increase annual production capacity for flat-panel TVs and to raise its global sales of televisions overall to 700 billion yen (U.S. $5.93 billion) in 2005-2006 from 530 billion yen in 2002-2003.
Matsushita, which is said to rank second to Sony Corp. in the consumer electronics sector, said it wants flat-panel TVs to account for more than 60 percent of its television sets in 2005-2006, compared with less than 20 percent in 2002-2003. (Reuters)
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