Display maker for Apple again suffers losses and dismisses a third of the state

Japan Display already on   for three years remains unprofitable and   by   results of the fourth quarter of 2017 showed more than $ 300   million   "minus".

Display maker for Apple again suffers losses and dismisses a third of the state

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.

Again minus

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