Skyworth released 2010 financial report LED TV sales rose 1366%

[High-tech LED News] Skyworth Digital (0751) announced the results of the fiscal year 2010 (April 1, 2010 to March 31, 2011). The Group's turnover was HK$24.339 billion, up 6.9% year-on-year; gross profit was 4.663 billion. , accounting for 19.16%, down 2.24% year-on-year; net profit was 1.281 billion, down 3.39% year-on-year. Among them, the sales revenue of TV products was HK$20.163 billion, down year-on-year, but LED TV sales rose 1366%.

Yang Dongwen, president of Skyworth Color TV, said that the Group expects to increase its gross profit margin by increasing the sales of LEDs and 3D TVs, and expects gross profit to exceed 20% in the coming year. In addition, he pointed out that LED TVs currently account for 36% of TV sales and are expected to exceed 50% in the coming year; 3D TVs account for 15% and are expected to reach 20% in the coming year.

Skyworth’s 2011 financial report shows that the company’s target sales of color TV products are 9 million units, of which 7 million are in the mainland market, including 4 million LED TVs and 1.5 million 3D TVs. Among them, LED TV will increase by more than 150% compared with last year, accounting for 57%. LED TV is only up to 9%, Skyworth said that the main reason for TV sales is affected by the season, after the New Year is off season.

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