A roundup of today's other stories in brief
Flatscreen TV prices to drop by up to 30%
LG Electronics and Sharp expect prices of flat LCD television sets to drop by 20-30 per cent or more in 2007 amid overproduction and cost reductions.
"Last year we saw about 30 per cent of price reductions for plasma and a little bit more for LCD. Next year, in 2007, we expect about the same," Young Chan Kim, head of global marketing for LG's displays division told journalists at the IFA consumer electronics show.
Katsuhiko Machida, president of Sharp, said he expected a fall closer to 20 per cent on average for LCD TVs. "Some segments may drop 30 per cent, others only 15 per cent," he said in an interview. - (Reuters)
New model set to net €1bn for Philips
Philips Electronics expects to sell one million of its LCD Ambilight television sets around the world by the end of 2006.
Philips consumer electronic chief executive Rudy Provoost said at the IFA consumer electronics show that he expected Ambilight TV sales to amount to around €1 billion in 2006. Ambilight, launched last year, is a new kind of LCD television that illuminates the wall behind the TV with a range of coloured lights in the back of the set. - (Reuters)
Contracts a boost for Ericsson
Ericsson's string of contract wins in August gives the Swedish group confidence in winning market share, but tough price competition means gross margins will stay volatile, a spokesman said.
"The contracts give us confidence that we are gaining market share," Gary Pinkham, Ericsson's vice president for investor relations, told an investor gathering in Oslo. - (Reuters)
Nokia to buy software firm
The world's top handset maker Nokia said yesterday it had agreed to buy mapping software firm gate5 AG for an undisclosed sum to tap into the fast-growing mobile navigation market.
Nokia said after the deal it will offer consumers maps, routing, navigation and other location-based applications on its mobile devices. - (Reuters)