Television makers report losses

Konka Group, China’s second-largest television maker, said that it would probably report a loss for 2001, its first in eight years. Rising operating costs, price cuts and a slump in sales were all cited as contributory factors. It added that the company is seeking to return to profit by making cellphones and investing in property Rival television makers Hisense Electric and Sichuan Changhong Electric said that 2001 profits would probably fall by more than half. Over-production has left Chinese television makers with big unsold inventories.