Corning has said the demand for flat-panel televisions increased in the first quarter of 2008.

Despite the economy suffering from the effects of the credit crunch, consumer demand for the screens has remained with the glass maker seeing triple profits.

Liquid crystal display televisions and computer monitors are still popular despite the economic situation and James Flaws, Chief Financial Officer, said the demand rose during the first quarter.

"In our experience in past recessions, entertainment TV is not impacted very much," he told Reuters.

"Consumers (typically) retreat from home buying and from new cars, and retreat to the home," he added.

The firm reported that first-quarter net income increased by $1.03 billion from $327 million this time last year.

Retail sales of their products grew by 24 per cent to $1.62 billion with sales and earnings comparisons benefiting from the weakening of the US dollar against the Japanese yen.

Corning forecast second-quarter earnings of $1.71 billion.

Source:

Reuters