Toshiba Halts Domestic LCD TV Production, Aims to Double Operating Profit by 2014-2015
May 18, 2012
- Toshiba said on May 17, 2012 that the company has terminated LCD (Liquid Crystal Display) TV production in Japan, according to a report by Reuters. The company is expected to shift its focus to emerging markets as domestic demand for TVs declines higher than expected in 2011.
- Meanwhile, Toshiba plans to double its annual operating profit to 450 billion yen (US$5.67 billion; US$1=79.4 yen) by the year ending March 2015, according to the same source. Annual operating profit stood at 206.7 billion yen (US$2.60 billion) for the year ended March 2012. To reach this goal, it is reported that Toshiba will expand its social infrastructure business and stimulate sales of electronics devices.