The price war over big-screen HDTV sets has apparently had a devastating effect on Circuit City, the second-largest consumer electronics retailer, which reported a loss of $16 million during its third quarter, versus a profit of $10.1 million during the comparable period a years ago. During a conference call with investors, the company blamed plunging prices of LCD and plasma TV sets. Ironically, the company said that sales of the sets had soared but the company's margin of profit on them. Circuit City chief Philip Schoonover said, "[They] did not produce the gross profit dollar results needed to offset these price declines."




21/12/2006