Skyworth’s net profit last year increased by 2.62% year-on-year to 1.252 billion.

On June 29th, Skyworth Digital released the financial report for 2011 (from April 1, 2011 to March 31, 2012) showing that the company’s sales amounted to HK$281.37 billion, a year-on-year increase of 15.6%; net profit increased by 6.6% to 12.52 billion yuan.

The financial report shows that Skyworth's mainland China market accounted for 88.1% of Skyworth’s total turnover, and its color TV business accounted for 88.9% of sales in the Chinese mainland market. Digital set-top box business and liquid crystal device business accounted for 7.9% and 1.1% of sales in the Chinese mainland market, respectively. Other businesses include the production of washing machines, refrigerators, moulds, automotive electronics, other electronic products and property rental, accounting for the remaining 2.1%.

In Skyworth's main color TV business, in 2011, Skyworth TV sales reached 9.25 million units, China's mainland market reached 7.20 million units, and overseas markets 2.23 million units. In the 702 sales, LED LCD TVs reached 4.13 million units, accounting for 58.9% of flat-panel TV sales in the Chinese mainland market, up 33.9% year-on-year; 3D LED LCD TV sales reached 1.35 million units, accounting for the mainland China market flat panel 19.3% of TV sales.

Skyworth Financial Report estimated that sales of Skyworth TVs will increase by 8% year-on-year in 2012, achieving a target of 10 million units, of which 7.6 million will be sold in the Mainland and 2.4 million will be sold overseas.

Yang Dongwen, chief executive of Skyworth Digital, said that the significant increase in sales of Skyworth TVs mainly came from adjusting product mix and optimizing product mix, while consolidating the market position of rural and third- and fourth-tier cities. This year will increase the sales ratio of high-end smart TVs.

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