Sharp Posts Record $4.7 Billion Loss, Expects to Sell Even Fewer TVs in 2012

Sharp is announcing a 376 billion-yen loss (about $4.7 billion) for fiscal 2011, well above its 290 billion-yen estimate from February, citing low sales in its primary businesses, reductions in asset valuation, restructuring expenses, and deferred income tax charges. While the company is doubtlessly in a hurry to move on, it is expecting losses to continue in 2012, to the much smaller tune of 3 billion yen (about $37 million). In addition, Sharp is forecasting TV production to decrease by nearly twenty percent, from 12.2 million to 10 million units

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