Hitachi Ltd., the Tokyo-based appliance maker that is also active in a number of other industries, reported second-quarter 2011 revenues of ¥2,422,036 million, or $31,455 million, compared to 2Q 2010 revenues of ¥2,349,885 million. Operating income was ¥118,211 million, or $1,535 million, in 2Q 2011, compared to ¥129,573 in 2Q 2010.
Hitachi Ltd. revenues for the first half of 2011 was ¥4,572,729 million, or $59,386 million, compared to ¥4,502,451 in the first half of 2010. Operating income was ¥170,614 million, or $2,216 million, in the first half of 2011, compared to ¥218,048 in the first half of 2010.
Hitachi's appliance business, Digital Media & Consumer Products, makes TVs, refrigerators, washing machines, air-conditioners, water heaters, and other appliances. Digital Media & Consumer Products had 2Q 2011 revenues of ¥238.2 billion, or $3,094 million, down 5% in yen from 2Q 2010. Operating income was ¥1.9 billion, or $25 million, in 2Q 2011, down 1.9% from 2Q 2010.
Digital Media & Consumer Products had first-half 2011 revenues of ¥471.3 billion, or $6,121 million, down 7% in yen from the first half of 2010. Operating income was ¥5.2 billion, or $68 million, in the first half of 2011, down 5.7% from the first half of 2010.
Among the factors affecting Digital Media & Consumer Products' 2011 performance:
• Optical disk drive-related products recorded lower sales year over year, a result of parts and components shortages after the Great East Japan Earthquake and appreciation of the yen.
• Year over year sales of flat-panel TVs were affected by lower sales and other factors.
• Commercial packaged air-conditioners posted higher sales, mainly in Japan, spurred by demand for upgrading to energy-saving models.
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