Hitachi to increase plasma TV production in China

AFP, June, 2005

TOKYO (AFP) — Japanese electronics giant Hitachi Ltd said it will invest several million dollars to boost production of plasma television sets in China with an eye on its rising middle-class market.

"We will invest roughly 400 million yen (3.7 million dollars) to boost latter-stage production processes (such as assembly) of plasma televisions," said a Hitachi spokesman.

The company was targeting to win a 20 percent share of the Chinese plasma television production market, which enjoys consistent growth of the number of upper and middle class citizens, he said.

Demand for plasma television is expected to rise ahead of the 2008 Beijing Olympics, he said.

Hitachi was also planning to sell its plasma television panels to local manufacturers, he said....