22 October 1998: Japan“s Mitsubishi Electric Corp. will boost the ratio of domestic liquid crystal display sales to 30% in fiscal 1998 from the previous year“s 5%, said company officials.
The Tokyo…
22 October 1998: Japan“s Mitsubishi Electric Corp. will boost the ratio of domestic liquid crystal display sales to 30% in fiscal 1998 from the previous year“s 5%, said company officials. The Tokyo-based electric machinery maker will review its export-oriented LCD sales strategy and beef up domestic sales in pursuit of more stable transactions, as well as earnings that are unaffected by currency fluctuations. Mitsubishi Electric“s domestic proceeds accounted for only about 5% of the value of total LCD sales in fiscal 1997. The company said it will raise the ratio of domestic sales to around 30% in the current business year. Mitsubishi Electric has been producing thin film transistor-format LCDs through a joint venture with Asahi Glass Co. established in 1991. Output capacity, which currently is equivalent to 120,000 12.1-inch LCDs per month, will be raised to 160,000 units by the end of December. LCDs produced by the joint venture are distributed by Mitsubishi Electric and Asahi Glass through their respective sales networks. Mitsubishi Electric takes over 80% of output. Mitsubishi sells LCD panels made by Advanced Display Co. Ltd. in Kumamoto prefecture, southern Japan, mainly to overseas clients. Advanced Display is owned 85% by Mitsubishi and 15% by Asahi Glass Co. Ltd.