Sharp set to make a loss

sharp2Troubled Japanese giant Sharp – which got a $1.7 billion bailout earlier this year – looks like it’s still in trouble.

It said that it would report an operating loss for the six month from April to September, hit by declining sales of smartphones. Smart makes displays used in the phones.

It had said in July that it expected to make a profit of around $100 million but instead it will report an operating loss of $215 million this Friday.

The bailout by the banks in May included a requirement that Sharp restructure but it’s reported that it may have to sell off its formerly highly profitable display business.

Sharp formerly supplied its displays to a number of companies including Apple, but is faced by competition from a far wider range of display companies now.