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To: Peter V who wrote (42206)	6/16/1999 10:01:00 AM
From: BillyG	Respond to of 50808

LGE aims to become No. 1 player in British DTV market koreaherald.co.kr BERKSHIRE, U.K. - LG Electronics Inc., which is aggressively exploring the European electronics market, aims to become the No. 1 player in the British digital TV market by 2002, the chief sales official of its subsidiary said here. Barry Willmore, managing director of LG Electronics U.K. Ltd., said the company will make the United Kingdom the outpost for LG to attack the European electronics market. "We are delighted to be the first on the (British) market with digital satellite integrated TV," Willmore said in a recent interview with The Korea Herald. "It confirms our position as a leader in digital technology as well as in the design and manufacture of innovative televisions." While its global competitors, including Philips and Toshiba, are marketing TVs with separate set-top boxes for the reception of digital signals, LGE has developed a TV with a built-in satellite receiver and decoder. LGE, which began to ship 28-inch satellite digital TVs to Britain last November, also plans to market 28-inch terrestrial DTVs as early as next month and release a flat-screen 32-inch terrestrial DTV at a reasonably low price in the British market beginning in January next year. "Our mid- and long-term strategy is to move from low tech, low priced goods to leading edge, high tech and higher-value propositions," said Willmore. "We are confident that we will dominate the digital categories not only in the British market but throughout Europe in the not-too-distant future." LG's DTV has been cited as a "best buy" by leading British home electronics magazines and newspapers, including the Times, after it was displayed on an electronics retail show which was held early this year. The top official quoted Home Entertainment, a British entertainment magazine, as saying, "In many ways, it (LG's digital TV) has proved a master in that category." He said LGE will sell 20,000 DTVs in the British market by the end of this year and expand sales to 100,000 units in 2000 and 250,000 units to achieve a 10-percent market share by 2002. To venture into the European market, LG forged a strategic alliance with Pace Micro Technology Co., a British-based set-top box supplier to develop an integrated DTV last year. It also maintains a partnership with BSkyB, a satellite digital TV broadcasting service provider. Besides digital TVs, LGE also aims to become a leading supplier of other home appliances, including VCRs and microwave ovens. The company particularly expects drastic growth in sales of refrigerators this year. "We expect refrigeration to be a significant factor in our firm's marketing goals for this year," said Willmore. He posted its sales target of refrigerators at 120,000 units by year-end. Altogether, LGE's sales company in charge of the entire European market expects sales revenues of 112 million pounds this year from LG-brand goods alone. With sales of electronics goods produced on an original equipment manufacture (OEM) basis included, LGE forecast its sales will reach 180 million pounds. Updated: 06/17/1999 by Nam In-soo Korea Herrald corrrespondent

To: Peter V who wrote (42206)	6/16/1999 10:52:00 AM
From: BillyG	Read Replies (3) \| Respond to of 50808

Ding Dong, Divx is DEAD (I think). Those crooks!!!......... Compare the charts of Best Buy (open DVD) and Circuit City (Divx)...... techstocks.com Circuit City Posts Loss After Dropping DIVX washingtonpost.com Reuters Wednesday, June 16, 1999; 8:26 a.m. EDT NEW YORK — U.S. electronics retailer Circuit City Stores Inc. said on Wednesday that it posted a first quarter loss of $88.8 million after a charge from its decision to discontinue its unprofitable DIVX standard DVD player. Circuit City Group, the publicly traded electronics division, topped analysts' forecasts of 25 cents a share with profits of $39.3 million or 41 cents a share on a 15 percent increase in sales to $2.20 billion. After the $130.2 million or $1.28 a share charge from DIVX, the Richmond, Va.-based company reported a loss of $88.8 million or 87 cents a diluted share. Circuit City Group, which plans a two-for-one stock split next month, reported sales of $1.9 billion and net income of $13.3 million or 13 cents a share in the quarter ended May 31, 1998. DIVX was billed as an alternative to video rentals by letting customers rent its format of digital video discs (DVD) without having to return them to stores. However, the format did not get much support from film studios or other electronics retailers, leading to losses. Circuit City is offering DIVX customers rebates and it is cutting prices on DIVX discs, it said. At Circuit City's Carmax Group division, the car dealer's first quarter profits totaled $2.7 million or three cents a share on sales of $486.1 million, compared with a loss of $3.2 million or three cents a share on sales of $346.4 million.