LG trims TV sales expectations
August 23, 2011
The global downturn is hitting TV set manufacturers hard. Sony, Panasonic and Hitachi have all expressed concerns about how many set the public will buy this year and next.
The latest manufacturer to cut back its numbers is South Korea’s LG, which looks as if it will sell about 20 percent less flat-panel units than the previously forecast 40 million. This still means a target of 32 million units, but the – as yet unconfirmed – reports say it is European and US sales, or lack of, which have forced to company to look again at its expectations.
LG’s shares on the Seoul exchange tumbled more than 6 percent on the news.