Sharp loss for year over $3 Billion

See the article below. Sharp yearly numbers are in, and it continues to be bad news in the Consumer Electronics Industry. TVs again a large part to blame for the over $3 Billion in US dollar loss for Sharp for the year. Technology can't continue to be developed and released and drive such severe losses and have companies continue. Getting new gadgets will be at serious risk, price could skyrocket as the number of companies that can stay in this business dwindle down.

JZ

Sharp Posts Net Loss For Fiscal Year

By Steve Smith -- TWICE, 4/27/2012

Tokyo - Sharp Electronics reported a net loss and a double-digit drop in net sales in its fiscal year, ended March 31.

The net loss was 376 billion yen compared with the prior year's net income of 19.4 billion yen, and sales were down 18.7 percent for the year to 2.46 trillion yen.

Sharp blamed the usual culprits -- the continued strength of the yen, troubles with the Japanese and European economies and a slowdown in China -- and lower demand for LCD TVs.

In its consumer/information products unit, sales were down 25.6 percent to 1.06 trillion yen compared with the prior year due to "sharply decreased demand" in Japan and larger-than-expected price declines, "which was slightly offset by healthy growth of large-size models 60 inches and larger overseas, especially in North America," the company said.

Sharp, which entered into an agreement with Hon Hai Group, the Taiwanese electronics manufacturer that bought a 10 percent stake in the company and is a major Apple supplier, sees some optimism from that and for growing demand for LCDs in smartphones and tablets, but expects the coming fiscal year to "remain unpredictable," the company said.