Sharp Forecasts Rare Loss
Sharp Corp. has forecasted an annual loss of just over $1 billion for the year ending March 31. According to Bloomberg News, it represents the company's first yearly loss in nearly five decades.
The loss is mostly attributed to a loss of demand brought on by the global economic downturn. The drop in demand for HDTVs was a large part of the problem as well.
Sharp joins several other major Japanese CE manufacturers, including Sony and Panasonic, who have either forecasted or announced major losses this year.