Market Report – Hyundai Cuts

Zhang: South Korea's top car, Hyundai says, its domestic production of cut up to 30 percent in the first quarter. The announcement came hours after the smallest automaker Ssangyong, filed for bankruptcy court protection. In December came the turnover of the automobile manufacturer in South Korea 13 percent. An interest rate of South Korea has been lowered to an historic low of 2.5 percent, the appetite for the country, the lift, with the won and stocks decline. In Japan, Panasonicthe world's largest producer of plasma TVs will reduce its investment in two new series flat-screen TVs in Japan for a five-five billion dollars were spent between demand crashes reduced. A weakening economies around the world were slowing demand for flat TVs. Hitachi, the largest Japanese electronics manufacturer said its annual LCD TV sales are probably well below the target, even after cutting its forecast by nearly 30 percent. But Sony, a costly price war on flat screens launched last year, has seen salessome of its core products exceeded expectations during the holiday of the United States, despite the economic downturn. But concern with the Japanese electronics maker by weak consumer demand and a stronger yen, Korean companies are seen in a better position to fight for market share. LG Electronics said it would increase its sales of flat-screen TVs from 50 percent this year, Samsung announced Thursday it is targeting 10 percent growth in sales. Asian shares cut down as a whole, as investors strengthened the U.S. in December

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~ by lcdhdtva on August 17, 2010.

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