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Sharp sees decline in sales

Sharp sees decline in sales

August 1, 2019

The OEM has published its consolidated financial results for the first quarter, fiscal year 2019 which ended on 30 June 2019.

Sharp said in its report that “despite a continued challenging business environment, structural improvements and other factors […]” operating margin and profit have outperformed the last quarter, fourth quarter of fiscal year 2018.

Sharp explains in its presentation how it has reorganised, leveraging the Sharp AIoT platform to work with other companies, accelerating the creation of smart life services and smart office services. It says that it has now reformed to “One Sharp” through three business groups, Smart Life, 8K Ecosystem (this include its printers) and ICT. The newly formed 8K Ecosystem group is now headed by J.W. Tai, Chairman President & CEO of this group.

Total net sales were recorded at ¥514.9 billion ($4.7 billion/ €4.2 billion) which is a decrease of 3.5 percent year-on-year. The business segment which includes Sharp’s printer sales recorded net sales of ¥262.5 billion ($2.4 billion/ €2.2 billion) for the first quarter which is down 9.8 percent year-on-year.

For its forecast, Sharp predicts net sales of ¥2,650 billion ($24.3 billion/ €22 billion) for its full fiscal year 2019.

Categories : City News

Tags : Business Financials OEM Sharp

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