FILE PHOTO: the logo of Sharp Corp is pictured at CEATEC (combined Exhibition of Advanced Technologies) in JAPAN in 2016, in the Makuhari Messe, in Chiba, Japan, October 3, 2016. (REUTERS photo/Toru Hanai/File Photo
TOKYO (Reuters) – Sharp Corp reported a lower-than-expected quarterly profit as an escalating trade war between the United States and China damped demand for electronics, appliances and tv’s.
The trade dispute was interrupted by a tit-for-tat import duties, spanning industries, is the diminished demand for consumer electronics globally, are well defined and are the Taiwanese parent Foxconn, the world’s largest contract manufacturer.
Sharp, which makes sensors, camera modules and display screens for Apple Inc’s iPhones, reported an operating profit margin of 14.61 billion yen ($133.82 million for the first quarter ended in June, a decrease of 24.8 billion yen a year earlier.
That is, compared to 18.84 billion yen average of five analyst estimates compiled by Refinitiv.
Sharp, however, kept its full-year sales forecast for the fiscal year ending March to 100 billion yen, against a consensus estimate of 90.42 billion yen, from 9 analysts.
We are the latest among Japanese electronics companies, including Panasonic, robot maker Fanuc and camera and copier maker Canon, you have to log in with a double-digit drop in profit for the quarter of the year.
The weak results come in the midst of the declining iPhone sales.
Apple said sales of the smartphones fell 12% worldwide to $25.99 billion u.s. dollars in the quarter through June, following a 17% decline in the last quarter of the year.
Reporting Makiko Yamazaki; by using the ipad, Himani