Breaking News

Nikon releases the NIKKOR Z 24-70mm f/2.8 S II CORSAIR ONE a600 Brings Improved Cooling and Adaptive Performance in a Compact Design Speedlink setting the tone in the gaming zone be quiet! unveils new show case chassis and shows cooling innovations and peripherals at gamescom 2025 RICOH announces GR IV and GF-2 external flash

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Sharp Cuts Full-year Profit Forecast as Virus Impacts Demand

Sharp Cuts Full-year Profit Forecast as Virus Impacts Demand

Enterprise & IT May 8,2020 0

Sharp Corp revised its consolidated financial results forecast for the year ending March 31, 2020.

The Apple supplier cut its full-year profit forecast by 48% on Friday, as demand for technology devices took a hit from the coronavirus outbreak.

Sharp, which makes sensors, camera modules and screens for Apple’s iPhones, expected annual operating profit in the year ended in March to come in at 52 billion yen ($489 million), down from its previous forecast of 100 billion yen. Net profit is seen at 20 billion yen, down 75% from its earlier forecast of 80 billion yen.

The company, a unit of Taiwan’s Foxconn, said it has revised the forecast for net sales, operating profit, and profit attributable to owners of parent downward from the forecast it had originally announced on February 4, 2020. The reasons for the revision are based on the impacts of the infection spread of the new coronavirus since the end of January (such as production slowdown in customers’ factories for the company’s device business including displays, as well as constrained production, distribution and sales activities for the company’s product business), the increase in the retirement benefit expenses, and the reporting of the loss on valuation of investment securities.

Tags: Sharpfinance
Previous Post
Google and Facebook Extend Working From Home
Next Post
Fujitsu and Qualcomm Complete Multi-Gigabit Data Call Using 5G Carrier Aggregation

Related Posts

  • LEICA CAMERA AG AND SHARP CORPORATION ANNOUNCE TECHNOLOGY PARTNERSHIP IN THE SMARTPHONE PHOTOGRAPHY SEGMENT FOR THE JAPANESE MARKET

  • SoftBank Reports $18 Billion Loss from Vision Fund

  • Panasonic Annual Profit Decreased, Tesla Battery Venture Brings Gains

  • Sony's Q4 Profit Dropped 57% on Low Image Sensor Sales

  • Roku Says Ad Sales Growth is Slowing, Platform Sees Growth

  • Amazon Could Report Loss in Q2 As a Result of COVID-19-related Costs

  • Apple Reports High Sales Despite Coronavirus, Future Uncertainties Remain

  • Twitter Reports Small Revenue As Advertising Business Hit By Covid-19

Latest News

Nikon releases the NIKKOR Z 24-70mm f/2.8 S II
Cameras

Nikon releases the NIKKOR Z 24-70mm f/2.8 S II

CORSAIR ONE a600 Brings Improved Cooling and Adaptive Performance in a Compact Design
Cooling Systems

CORSAIR ONE a600 Brings Improved Cooling and Adaptive Performance in a Compact Design

Speedlink setting the tone in the gaming zone
PC components

Speedlink setting the tone in the gaming zone

be quiet! unveils new show case chassis and shows cooling innovations and peripherals at gamescom 2025
PC components

be quiet! unveils new show case chassis and shows cooling innovations and peripherals at gamescom 2025

RICOH announces GR IV and GF-2 external flash
Cameras

RICOH announces GR IV and GF-2 external flash

Popular Reviews

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Noctua NH-D15 G2

Noctua NH-D15 G2

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Soundpeats Pop Clip

Soundpeats Pop Clip

Terramaster F8-SSD

Terramaster F8-SSD

be quiet! Pure Base 501

be quiet! Pure Base 501

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed