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(Reuters) - Japan's Sharp Corp warned on Monday it will likely miss this year's earnings target as an intensifying price war with cheaper Asia rivals in display panels and TVs cuts deep into the consumer electronics maker's profit margins.

 

Sharp shares skidded 9 percent to two-year lows after the maker of screens for Apple Inc's iPhones said it now doesn't expect to meet an earlier forecast a 30 billion yen ($255 million) net profit in the 12 months ending March.

 

you gotta read the rest of this here

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Interesting....., last week we get reports that Sharp USA sold their Headquarter in NJ, only to lease it back. Then I get an email earlier today about a rumored GIANT acquisition in the industry.  Now, I get this Sharp financial update with an unknown source claiming that Sharp will lose billions (yen that is).  Very interesting indeed.

Japan's Sharp (IW 1000/160) saw its shares plunge in Tokyo on Monday following a report that said the consumer electronics giant would fall back into the red, reversing company forecasts for an annual profit.

The firm's shares dropped 8.73% to 230.0 yen by the close of trading.

Japan's leading Nikkei business daily said the Osaka-based firm would report a loss that could amount to hundreds of millions of U.S. dollars for the fiscal year through March owing to a slump in its struggling television business.  more here

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