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Video Industry Making Profits
New York stockholders heard RCA chairman David Sarnoff report television now accounts for 60 percent of RCA gross income with a first quarter net profit of 11.24 million and 75.3 cents per share. RCA’s quarterly revenue rose to 127.37 million, more than last year, while overall business volume has tripled in a decade. He said television is a billion dollar year industry and noted RCA Victor’s millionth television set produced in February amid strong demand and a supply shortage. Industry forecasts expect about 5 million new video sets in 1950.
MENTIONED IN THIS ARTICLE
New York
Radio
America
Ard
David Sarnoff
RCA
Sarnoff
RCA Victor