TDK is reporting that is has increased media sales since 2001. Reasons for this are according to the comapy; the yen's depreciation, growth in recording equipment sales due to the company's product launch in Europe (products like the VeloCD writer were launched in the U.S. last fall); and the release of new game software.
The companies sales of audio and video tapes dropped, but the company says lower demand of these products was expected due to a decline in total demand for those products.
In TDK's recording devices sector, sales were down 3.2 percent from 2001 to ¥38,259 million (US$289,841 thousand). The company stated it nevertheless regained its market share and sales levels in the third quarter through a gradual increase in shipments of 40GB/disk HDD heads. |
Still suffering from overall losses, TDK also announced its decision to cut an additional 400 jobs by March through an early retirement program, as part of efforts to improve profitability through cost cuts. In October, the company said that it would reduce its global work force by 24 percent, or 8,860 people, by March 2004.
The company cited pressures for increased efficiency and the need to reduce capacity as the respective reasons for its closure of CD-R and VHS production lines at its plant in Peachtree City, GA early last year, marking its domestic exit from media manufacturing. It still maintains plants for tape and optical disc media in Luxembourg and Japan.
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Source: Medialinenews.com
