Tokyo - Sharp Electronics reported a net loss and a double-digit drop in net sales in its fiscal year, ended March 31.

The net loss was 376 billion yen compared with the prior year's net income of 19.4 billion yen, and sales were down 18.7 percent for the year to 2.46 trillion yen.

Sharp blamed the usual culprits -- the continued strength of the yen, troubles with the Japanese and European economies and a slowdown in China -- and lower demand for LCD TVs.

In its consumer/information products unit, sales were down 25.6 percent to 1.06 trillion yen compared with the prior year due to "sharply decreased demand" in Japan and larger-than-expected price declines, "which was slightly offset by healthy growth of large-size models 60 inches and larger overseas, especially in North America," the company said.

Sharp, which entered into an agreement with Hon Hai Group, the Taiwanese electronics manufacturer that bought a 10 percent stake in the company and is a major Apple supplier, sees some optimism from that and for growing demand for LCDs in smartphones and tablets, but expects the coming fiscal year to "remain unpredictable," the company said.
Release Date: 
2012-04-27 19:26:01
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Abstract Web: 
Tokyo - Sharp Electronics reported a net loss and a double-digit drop in net sales in its fiscal year, ended March 31.
Article Type: 
News
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483737
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