Shenzhen SEG Samsung Glass suffers in CRT market

Shenzhen SEG Samsung Glass Co Ltd said it expects to post a net loss of CNY 87 million for the 1Q 2007, up from CNY 27.15 million a year earlier due to strong competition and the rising cost of raw ma…

Shenzhen SEG Samsung Glass Co Ltd said it expects to post a net loss of CNY 87 million for the 1Q 2007, up from CNY 27.15 million a year earlier due to strong competition and the rising cost of raw materials. In a statement filed with the Shenzhen Stock Exchange, the company said both output and prices of its products were lower because of intense competition in the CRT display market, while prices of raw materials have been increasing. The company is scheduled to release its 1Q financial results on 21 April 2007.