updated 04:30 pm EDT, Tue May 27, 2008
Hitachi refocuses strategy
At Tuesday's corporate strategy meeting, Hitachi announced it would continue to pursue with its money-losing HDTV panel manufacturing along with recovering HDD sales as core businesses. Company president Kazuo Furukawa maintains panel production will remain the company's core business because demand is growing globally, as one of three reasons for the newfound focus.
Furukawa said there is great potential for flat-panel TV sales in Brazil, China, Russia, India and other emerging markets. Secondly, the electronics giant believes flat panels will merge broadcasts and communications.
Next month, Hitachi will launch its Wooonet networking service that will allow its TVs to communicate with computers. As customers demand thinner and more advanced HDTVs, Hitachi believes its products, including the recently introduced UltraThin line, will be highly coveted.
In the 2007 fiscal year, Hitachi lost about $1,062 million, the majority of which was attributed to poor HDTV sales. In related news, the company hopes to boost its overseas HDD sales from 42% last year to 50% in 2010.
During the speech, Furukawa also revealed Hitachi will focus on 'green' technology aimed at decreasing energy consumption and environmental friendliness. As part of this policy, the company will make 100,000 lithium-ion batteries annually for GM's upcoming Volt starting in 2010. [via Techon]