Related News
Home » Business » Manufacturing
US$1.3b annual loss posted at Sharp
By Mari Yamaguchi |
April 28, 2009, Tuesday
|
Print Edition
Print Edition
JAPANESE electronics maker Sharp Corp suffered an annual net loss of 125.8 billion yen (US$1.3 billion), its first yearly red ink in nearly six decades, due to declining demand and increasing competition amid the global economic slump.
Sharp's loss, reported yesterday, was worse than the 100 billion yen loss it had projected in February, and a sharp drop from the 101.9 billion yen profit it earned the year before.
The maker of the Aquos line of liquid crystal display televisions said revenue for the fiscal year ended March fell to 2.85 trillion yen from 3.42 trillion yen a year ago.
Before announcing its projected loss in February, the Osaka-based company had been forecasting a 60-billion yen profit.
Sharp said the business environment for the current fiscal year that began April would remain uncertain, and projected a net profit of 3 billion yen on revenues of 2.76 trillion yen.
Sharp was struck by a bigger-than-anticipated loss "because of faltering consumption, harsh price competition and inventory cutbacks," it said in a statement.
Sales of televisions and other audio-visual equipment, as well as mobile phones, declined due to the strong yen as well as price cuts amid intensifying competition, Sharp said.
Sales of other electronics devices declined nearly 30 percent from a year earlier.
Sharp has said it would cut 1,500 contract workers in Japan by the end of March, while its directors will forgo bonus pay in June and accept pay cuts of up to 50 percent. It has reduced panel production for mobile phones in response to the slowdown.
Sharp's loss, reported yesterday, was worse than the 100 billion yen loss it had projected in February, and a sharp drop from the 101.9 billion yen profit it earned the year before.
The maker of the Aquos line of liquid crystal display televisions said revenue for the fiscal year ended March fell to 2.85 trillion yen from 3.42 trillion yen a year ago.
Before announcing its projected loss in February, the Osaka-based company had been forecasting a 60-billion yen profit.
Sharp said the business environment for the current fiscal year that began April would remain uncertain, and projected a net profit of 3 billion yen on revenues of 2.76 trillion yen.
Sharp was struck by a bigger-than-anticipated loss "because of faltering consumption, harsh price competition and inventory cutbacks," it said in a statement.
Sales of televisions and other audio-visual equipment, as well as mobile phones, declined due to the strong yen as well as price cuts amid intensifying competition, Sharp said.
Sales of other electronics devices declined nearly 30 percent from a year earlier.
Sharp has said it would cut 1,500 contract workers in Japan by the end of March, while its directors will forgo bonus pay in June and accept pay cuts of up to 50 percent. It has reduced panel production for mobile phones in response to the slowdown.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
