TPV's Q1 loss widens to US$50.4m
Bottom line also hit by weakening of EM currencies
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Kalpana Rashiwala
TPV Technology's net loss widened to US$50.4 million for the first quarter ended March this year, from US$4.8 million in the same year-ago period. Last month, the maker of display products such as PC monitors and TV sets warned that it expects to record US$40 million to US$60 million net loss for the period.
TPV is listed in Hong Kong and Singapore. Its Q1 2014 results statement yesterday showed the widening loss was on the back of a 3.9 per cent year-on-year drop in revenue to US$2.56 billion, as global demand for TVs and monitors remained subdued.
China, the world's largest TV market, lost its growth momentum while Europe's economic recovery was fragile. The Russia-Ukraine conflict dampened market sentiment further.
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