Vizio Inc., a supplier of low-cost flat-panel display TVs in the U.S., expects shipments of its LCD televisions to rise more than 70 percent to more than six million units this year and to remain profitable even as set prices fall at least 30 percent, the company’s chief executive said.

Such steep declines in LCD television selling prices suggest more challenges ahead for major television manufacturers. Sony Corp. (SNE), Panasonic Corp. (PC) and other major Japanese television manufacturers have struggled to reverse losses at their television businesses, unable to slash costs faster than falling prices, even though demand for new sets remains strong.

Vizio, a closely held company based in Irvine, Calif., is the U.S. market leader for LCD televisions with a 21.7 percent share in the second quarter, edging out Samsung Electronics for the top spot, according to research firm iSuppli.

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Things keep getting worse for Corning (GLW), as demand for large-screen LCD televisions sags in the face of a global consumer recession.

The LCD glass maker this morning said it is now withdrawing the financial guidance it provided just a few weeks ago for the fourth quarter and for 2009.

In a statement, CFO James Flaws said that “Panel makers, particularly those in Taiwan, have continued to reduce the utilization of their factories heading into the second half of this quarter in response to weakened retail demand for LCD televisions and desktop monitors.” He added that demand in the company’s wholly owned display glass business “has dropped more precipitously than we expected just a few weeks ago,” with “additional, but less severe, reductions in demand at Samsung Corning Precision Glass,” its joint venture in South Korea.

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The television maker Syntax-Brillian (BRLC) this morning announced that the company has filed for protection from creditors under Chapter 11 of the federal bankruptcy code, and that its stock “will have no value” under a proposed reorganization plan.

The company has signed a deal to to sell certain assets to Olevia International Group, a new company owned by TCV Group, which provides the plastic injection molded parts for BRLC’s Olevia-branded LCD televisions. In exchange for the assets purchased, Olevia will assume $60 million of the BRLC’s secured debt. The company said its business will continue to operate as usual.

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