Sharp warns of first-half operating loss on price pressure for displays

TOKYO Japan’s Sharp Corp warned of a six-month operating loss due to increased pricing pressure for its smartphone display business.

The company forecast an operating loss of 26 billion yen ($215 million) compared with its previous forecast for a profit of 10 billion yen. It is due to report first-half results on Friday.

It also slashed its full-year operating profit forecast to 10 billion yen from 80 billion yen.

Once among the top display suppliers to Apple Inc, Sharp has been overtaken by the likes of LG Display. Critics say it also over-invested in manufacturing capacity in the past decade.

($1 = 120.9500 yen)

(Reporting by Ritsuko Ando– Editing by Edwina Gibbs)