Teco Aims to Be Among Taiwan's Top-5 LCD TV Makers

Taipei, Feb. 4, 2009 (CENS)--Teco Electric and Machinery Co., one of Taiwan's leading manufacturers of home appliances and industrial motors, aims to join Taiwan's top-five manufacturers of LCD (liquid crystal display) TVs.

By refocusing on domestic sales, Teco aims to sell 10,000 LCD TVs monthly this year, up a whopping 80% from last year, saying its home-appliance unit will see annual sales exceed NT$5 billion (US$147.92 million at US$1:N$33.8) this year. To reach that goal, the company is mostly using energy-saving panels supplied by AU Optronics Inc., parts that help generate half of its total sales.

Founded in 1956 as an industrial motor manufacturer, Teco has diversified into home appliances, telecommunications equipment, IT systems, electromechanical components, and commercial electronics.

Teco president Sophia Chiu stressed that the company would refocus on selling LCD TVs in Taiwan, slow sales to Europe this year to weather the gloomy global economy. The company sold 5,000 "FULL HD" 22-inch LCD TVs in Taiwan in January alone.

An industry insider said Teco sold over 60,000 LCD TVs last year as a top-10 Taiwan brand. The company aims to sell 120,000 LCD TVs in Taiwan this year.

Teco chairman C.K. Liu said his company has consolidated distribution channels and product lines in Taiwan drastically to cope with the prevailing downturn in 2009.