Toshiba Corp. said Monday it has slashed its projected operating profit for the full year to March by 30 billion yen to 160 billion yen, joining a growing list of technology firms that are revising their outlooks due to a slowdown in the sector.
The company blamed rapidly falling semiconductor prices for the revision, and it also cut projected revenues by 10 billion yen to 5.86 trillion yen.
"Prices are falling at such a rapid pace it's making us say, 'Just give us a break,' " Sadazumi Ryu, Toshiba's corporate executive vice president, told a news conference.