Sharp Reports Strong LCD Sales

Sharp Corp. reported in its annual earnings that it experienced record LCD sales in the last fiscal year, a key factor in its 27% increase in profits over the previous year. LCD television sales were up 78% from the year prior and are expected to rise by another 29% this year. The electronics maker also stated that it plans to hike its capital spending by 3.3% this year, most of which will be spent on an eighth-generation plant where it will make a much greater number of 40-inch LCD panels. That facility is expected to be online by the fall of 2006.

You can read the full Bloomberg story with all the financial details here.