Sharp Launches Retail Field Team
At its annual press luncheon in New York City on Tuesday, Sharp Electronics executives Mike Troetti, Bob Scaglione, Judah Zeigler and Tony Favia offered insights on the company’s current state of affairs such as executive changes in Japan, sales and growth figures, manufacturing expansion and retail and branding campaigns.
On the head office front in Japan, Katsuhiko Machida was named chairman of the board and CEO while Mikio Katayama was named president and COO. Both appointments were effective as of April 1, 2007. In the US, Judah Zeigler was made associate vice president of the new retail and consumer group. Bruce Tripido became associate vice president of the marketing and entertainment products division.
On the money issue, Sharp’s Scaglione announced that the company, worldwide, achieved record profits for the last fiscal year ending March 2007. Net profits rose 14.7 percent; operating profit rose 14 percent; revenue grew 12 percent and sales rose 12 percent to $26.5 billion beating the company’s own forecasts. He stated the profits were lifted by sales of LCD TVs, which surged 49 percent, and mobile phones, which grew by about a third (Sharp does not market phones in the US). Scaglione noted that the company is targeting 9 milllion LCD TV units for 2007. He also added that due to the increase in the sizes of LCDs offered by Sharp (and in spite of the rampant price declines in flat panels), the company’s average sale to retailers has gone up.