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After shifting production overseas, JVC will also retreat from mass-market models for the Japanese market and focus solely on large high-profit LCD TVs with screen sizes of 42 inches and larger. All production will be moved to its plant in Thailand, the company said.

Through such measures, the company says it aims at bringing its loss-making domestic TV operations to end and to break even in 2009.

The company said it projects shipments of around 35,000 LCD TVs for 2009, a massive drop from about 300,000 units planned for this year.

JVC reported that its net loss for fiscal 2007 ballooned to 47,521 million yen from the previous year's 7,891 million yen. It has also suffered a net loss for the fourth straight year.

But the company also reported an operating profit of 3,262 million yen in a turnaround from a loss of 5,656 million yen last year. Sales also fell 11.3 pct to 658,449 million yen.