Electronics maker Sharp Corp. said Monday that it suffered an annual net loss of ¥125.8 billion due to declining demand and increasing competition amid a global economic slump.
Sharp, which makes the Aquos line of liquid crystal display televisions, said its net loss for the fiscal year through March was a sharp drop from the ¥101.9 billion profit it earned a year earlier. Yearly revenue fell to ¥2.85 trillion from ¥3.42 trillion.
The company said sales of televisions and other audiovisual equipment, as well as mobile phones, declined due to the strong yen as well as price cuts amid intensifying competition.
Sales of other electronics devices declined nearly 30 percent from a year earlier.