TOKYO: Japanese electronics giant Sharp on Friday posted a whopping six-month net loss of nearly $700 million, hit by restructuring costs and a slump in demand for its smartphone screens.
The liquid-crystal display giant, which is key supplier to Apple and other mobile phone makers, singled out a downturn in smartphone-screen demand in China for its latest set of poor results.
Sharp warned of the loss this week, reigniting concerns about the future of the Aquos-brand maker, which has repeatedly appeared on the brink of bankruptcy in recent years as it trudged ahead with a painful restructuring.
"The situation surrounding Sharp is still severe -- they have strong technology, but their finances are extremely weak," said Hideki Yasuda, an analyst at Ace Research institute in Tokyo.
Sharp posted an 83.6 billion yen net loss in the half-year through September, down from a small profit a year earlier, while revenue fell 3.6% to 1.28 trillion yen.