TOKYO: Toshiba Corp., maker of Regza brand televisions, will stop producing sets in Japan after posting a loss last business year amid falling prices and a stronger yen.
The company halted output at its sole domestic TV factory in Saitama, north of Tokyo, sometime in the year ended March 31, a spokesman, Atsushi Ido, said by phone today, confirming a report by public broadcaster NHK.
He declined to give the specific date. Toshiba will still make TVs at four factories overseas, including in China and Indonesia, he said.
Japanese electronics makers, including Sony Corp., Panasonic Corp. and Toshiba, are suffering from falling TV sales as prices drop and a stronger yen reduces overseas earnings and competitiveness.
Toshiba’s TV business may remain unprofitable this fiscal year after losing about 50 billion yen ($623 million) a year earlier, the Tokyo-based company said May 8.
Hitachi Ltd., which posted a record profit last fiscal year, plans to have other companies take over domestic production of its Wooo televisions later this year.
Global TV shipments last year fell for the first time in six years because of excessive inventory in the U.S. and Europe, and the end of Japanese government subsidies for purchases, according to DisplaySearch, part of NPD Group. Shipments fell 0.3% to 247.7 million units, the researcher said.
Toshiba was the sixth-biggest maker of flat-panel TVs last year with a 5.1% share in the global market, down from 5.7% in 2010, according to DisplaySearch. (Bloomberg/T07)