Corning Says LCD TV Sales Are Strong
CORNING, N.Y., March 22, 2010 – Investors got a first look inside Corning Inc.’s new Generation 10 LCD glass substrate facility in Sakai City, Japan, and heard good news about worldwide LCD TV retail sales.
During the tour, Jim Clappin, president of Corning Display Technologies, told investors that retail data for the first part of this year shows robust demand for LCD TVs.
"In China, January LCD TV sales were up 53 percent. This is in line with our expectations, given that a portion of Chinese New Year occurred in January last year. In Japan, LCD TV sales were also very strong, up 79 percent in January and 65 percent in February.”
He noted that European retail sales grew as well, up 12 percent in January. In the US, LCD TV sales for the two months combined were comparable to sales during the same period last year. According to Clappin, sales last January may have been higher due to inventory liquidation at Circuit City and the original digital conversion deadline in February.
The retail data is the result of reports from a variety of independent consumer market research organizations – NPD, GFK, BCN and CMM – and the company’s internal analysis.
Clappin also noted that panel prices for the first two months continued to be firm. "This is important, as it is an indication that panel demand continues to be strong, which suggests there is strength further down the supply chain. Panel maker utilization rates also remain high. As a result, we continue to ship everything that we can make."
Corning is the first manufacturer of TFT-grade (thin-film transistor) Gen 10 substrates. According to the company, at 2880 × 3130 mm, they are the largest LCD glass substrates available. They are manufactured using Corning’s Eagle XG glass composition, an environmentally friendly LCD glass.
For more information, visit: www.corning.com
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