Apple supplier Japan Display posts 10th straight quarter of net loss

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

Cash-strapped Japan reported on Friday its tenth consecutive quarterly loss, hit by weak iPhone sales at its biggest client Apple Inc .

The liquid crystal display (LCD) maker for smartphones, which gets more than half of its revenue from Apple, posted a net loss of 83.27 billion yen ($786.53 million) in the April-June quarter, far wider than the 1.77 billion loss a year earlier.

Japan Display, money-losing for the past five years, declined to give a full-year earnings outlook, but has previously warned it cannot guarantee a return to profit this year as demand for smartphone screens stays weak.

Apple said last week sales of the smartphone fell 12% globally to $25.99 billion in the quarter to June, after a 17% drop in the prior quarter. ($1 = 105.8700 yen).

The Japanese company plans to hold a shareholders’ meeting on September 27 to formalise the bailout plan.

The investment, to be completed by August next year at the latest, will give the Chinese group a 49.8 percent stake in Japan Display, replacing Japanese government-backed fund INCJ as the biggest shareholder.

But it remains unclear whether Japan Display can close the deal by the deadline, as the investment is dependent on certain conditions, such as no intervention by Chinese authorities and no major cuts in orders from Apple.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Goa school teacher arrested for molesting 5 girls

Panaji, Oct 17 (IANS) Police in Goa have arrested a school teacher for allegedly molesting five girl students at...

UP POCSO court convicts man in 10 days, sets record

Rae Bareli, Oct 17 (IANS) A POCSO court in Uttar Pradesh's Rae Bareli has created a new record by convicting a rape accused and...

This adorable video of Priyanka Chopra with her niece will make your day

Priyanka Chopra is one of the most successful stars from India who has not only proved her mettle in Bollywood but is also making...

Radhika Madan paints the screen pink with THIS picture

Actress Radhika Madan is one of the few who has been successful in making a transition from television to films. She recently shared a picture...

Sensex opens marginally higher, Nifty nears 11,500

Mumbai, Oct 17 (IANS) Healthy inflow of Foreign Institutional Investment and supportive global markets aided the Indian market to start in the green on...
- Advertisement -

More Articles Like This