TV Manufacturers to Raise Flat-Panel Prices 5-10%
21st Century Business Herald, 7/07/09
Chinese television and consumer electronics manufacturers Konka (200016.SZ, 000016.SZ), Skyworth (0751.HK), and TCL Multimedia (1070.HK) have issued internal memos that at the end of July they will raise the price of some new flat-screen television sets by 5% - 10%.
An employee in Konka's multimedia marketing division said that the memo mentions a 5% - 10% price increase for mid-to-high-end 32" and 42" models.
Skyworth VP Yang Dongwen said the company will not raise prices on products already on the shelves, but new products with added features will have a higher price tag.
Yang said that while the price of flat-screen displays has gone back up above USD 200, the gross profit margin on each LCD TV unit has dropped from over 20% to under 10%. The prices of 32" and 37" displays are expected to continue to rise until October this year.
Keywords: 000016.SZ TCL Multimedia 1070.HK 0751.HK consumer electronics flat-screen Konka LCD profit Skyworth television Yang Dongwen pricing TV set hardware 200016.SZ
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