Just five years ago, Japanese electronics makers were in a sorry state. Profits were sinking as less expensive Asian rivals grabbed market share and prices for everything from computer chips to DVD players dropped.
These days, they've found a savior: the flat-panel TV.
Big names such as Panasonic, Sharp and Sony are now barely able to keep up with demand as millions of consumers around the world junk their bulky cathode-ray-tube sets for sleek, thin TVs that feature large, cinema-quality displays.