Sharp Corp. said Friday it remained in the red in the April-June period for the fifth straight year with a net loss of ¥33.98 billion due to sluggish sales of liquid crystal displays for smartphones.
The Osaka-based electronics maker quickly announced additional restructuring steps, saying it will stop producing and selling TVs in North and South America and will sell its Mexican production unit to China's Hisense Group.
The result was far worse than its group net loss of ¥1.79 billion in the same quarter last year.