April 26, 2008
Bangkok - Japanese electronics maker JVC made a decision to stop almost all domestic production of its flat-panel televisions in Britain to pave way for assembly lines in Thailand.
Victor Company of Japan (JVC) will limit its domestic production to 42 inch or bigger panels for home-theater systems.
The company plans to move its assembly lines to Thailand, according to JVC president Kunihiko Sato.
"It was a hard decision to make because the company has a long history with the television business," Sato told reporters. "But unless we do this now, it would affect the overall state of JVC."
JVC is an affiliate of Panasonic maker Matsushita Electric Industrial Co.
It is seeking ways to improve its financial condition as it prepares for an expected business integration with Kenwood Corp later this year.
JVC posted net losses of 47.52 billion yen (456 million dollars) for the year to March, bigger than the 7.89-billion-yen loss it made a year earlier.
Revenue fell to 658.4 billion yen from 742.7 billion the previous year.
JVC is the international consumer and professional electronics firm based in Yogohama, Japan.
Being founded in 1927, it is best known for introducing Japan’s first television set in 1939 and developing VHS video recorder.
