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2019 Q3 sales continue the decline for Sharp

2019 Q3 sales continue the decline for Sharp

February 4, 2020

Sharp’s consolidated financial results for the third quarter, ended 31 December 2019, show a decline in sales and an increase in profits as the market challenges continue.

Sharp said that despite a continued challenging business environment, including the prolonged US-China trade frictions, it recorded profits for the third quarter FY2019. Net sales were down 1.2% year-on-year at ¥634.9 billion ($5.8 billion/ €5.2 billion). Operating profit for the quarter is up 38.5% year-on-year at ¥29.4 billion ($269 million/ €244 million).

The 8K Ecosystem business segment which includes Sharp’s printers, saw sales of ¥324.3 billion ($2.9 billion/ €2.7 billion), down 7.4% year-on-year in the third quarter FY2019. Looking at the nine months of FY2019 sales for the segment is down 8.2% at ¥898.8 billion ($8.2 billion/ €7.4 billion).

Looking forward Sharp states in its presentation “Fiscal 2019 major second-half initiatives” aimed “toward changing the world with 8K + 5G and AIoT”. Initiatives include recover customer demand for device and display businesses, introduce compatible devices for 5G roll out and strengthen businesses in 8K devices and other new products. Also on the initiatives list is to leverage cross-industry partnerships, M&A, and other means (…)” to achieve these goals.

Categories : City News

Tags : Business Financials OEM Sharp

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