Sony, Sharp Report Big Losses As LCD TV Sales Slip

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Sony has reported that despite making revenues of $19.2 billion for its last quarter it managed to make a net loss of $312 million. Incurred costs from restructuring its division containing Sony Mobile contributed to the loss, with a small loss from its gaming division. Bigger loss contributions came from Sony's Entertainment's division, which includes its TV manufacturing--reflecting the woes of the greater industry itself.

Meanwhile Sharp has also reported its quarterly finances, which contain a significantly larger loss than had been predicted. Sharp's operating loss of 94.1 billion yen ($1.2 billion) is a huge slump from the 3.5 billion yen profit it managed a year ago, and it too blames a collapse in HDTV sales for the problem along with overcapacity issues at its main LCD plant. Sharp has cut its full-year forecasts and also is considering up to 5,000 layoffs.

Earlier this year Sharp sold a significant stake in its LCD plant at Sakai to a division of Foxconn, Apple's major manufacturing partner. In April Sharp noted it was making the world's first IGZO displays, a much-improved LCD system that is strongly rumored to be the screen for Apple's upcoming iPhone and possibly iPad mini.

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