Unlike their competitor Sony, Matsushita reported strong profits and also improved their forecast for the first half of their fiscal year. Here in the United States we know Matsushita by the Panasonic name, and the Panasonic sets have been flying off the retailers shelves in droves. Recently, Panasonic announced that it held the top selling plasma TV spot over the prior twelve months.
Matsushita whooped the analyst expectations of 11 billion yen by reporting a quarterly profit of 33.4 billion yen. Even with that strong growth, Matsushita expects shipments of their plasma televisions to triple over the full fiscal year. Expect to see more high-end HDTVs in the Panasonic line as the company expands the products in an effort to increase market share. Sony, you haven't been watching over your shoulder, have you? Too late.