Sharp Posts Record $4.7 Billion Loss For Fiscal 2011

Posted on Apr 28 2012 - 5:56am by Editorial Staff

Sharp has announced a 376 billion-yen loss (about $4.7 billion) for fiscal 2011 citing low sales in its primary businesses, reductions in asset valuation, restructuring expenses, and deferred income tax charges. The company is forecasting TV production to decrease by nearly twenty percent, from 12.2 million to 10 million units during which production fell by 17 percent. The company expects to see a 29 percent increase in sales of smaller LCD panels for mobile devices.

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