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Sharp Reports Lower Sales, Deeper Loss

Osaka, Japan – Sharp Electronics reported lower sales and a deeper net loss for its fiscal first half, ended Sept. 30. 11/01/2012 06:45:00 AM Eastern

Osaka, Japan – Sharp Electronics reported lower sales and a deeper net loss for its fiscal first half, ended Sept. 30.

Consolidated financial results for the six months recorded net sales of 1,104.1 billion yen, a drop of 16 percent compared with the same period last year.

Net loss was 387.5 billion yen, compared with a net loss of 39.8 billion yen from last year. The operating loss was 168.8 billion yen, compared with a 33.6 billion yen profit in the prior year.

In its consumer/information products group, sales of audio video and communications products were 338.2 billion yen, down 41.8 percent, falling significantly short of the same period last year, Sharp said.

Sales of LCD TVs fell drastically below the same period of the previous year. This was due mainly to decreased demand in Japan and a drop in sales in China caused by deteriorating Japan-China relations.

Mobile phone sales also declined, due mainly to the severe competition with overseas manufacturers and the fact that supply shortages for key components caused a bottleneck, the company said.

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