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Sharp posts $1.4 billion extraordinary loss, refocuses on mobile displays

Sharp has announced that it made an extraordinary loss of 117.1 billion yen ($1.4 billion) for the financial year ending March 2012. It comes after the company sold part of its LCD manufacturing business to Hon Hai, Sony withdrew from a joint venture and refused to deal with Sharp in the future, plus an 86 percent collapse in profits. The company has cited restructuring costs and inventory losses as the causes for the drop, but projected that its TV business would lose a further 18.7 percent of its projected...

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Published By: Engadget - Friday, 27 April, 2012