Japanese company Japan Display, one of the leading manufacturers of LCD-displays small and medium size, again suffers losses. The fourth quarter (October - December 2017) is not not just brought profit, but and ended with more than $ 300 million net loss.
By results of the fourth quarter, judging by company reports, the loss was $ 304 million and even surpassed the experts' forecasts with Wall Street , which was expecting $ 282 million "minus".
Revenue Japan Display, created in 2012 from profile units Hitachi, Sony and Toshiba under the Japanese state fund Innovation Network Corp of Japan (INCJ), was $ 1.8 billion, and it's almost on 30% less than the the same period of 2016.
Total revenue for 9 months of the previous year (April - December) was $ 5.3 billion, and here is the loss for this time - $ 931 million
Why did it happen?
More than half of the revenue from Japan Display comes from Apple, but this customer loses. This is not were able to move on to the release of OLED-displays , so the " apple " giant had to take screens for the iPhone X from Samsung. But The cause of failure is not only in this, because Japan Display suffers losses already for three years.
Now Japan Display is " in active search " - is looking for an investor who will be able to finance the OLED business . But While negotiations are delayed, and money before There is still no, although earlier planned to find " infusions " to end of March 2018 .
How will the problem be solved?
A so far neither investors, nor No investment, the Japanese manufacturer is looking for ways to reduce costs. AND one of they have already been found: this is a limitation of the range of products and reducing immediately 30% of the staff.
Source: Japan Display , Reuters